Risk on day as VIX slumps lower.
"It is common knowledge that Wall Street and its inflated compensation packages have remade Manhattan into an exclusive playground for the rich, just as tech moguls have made San Francisco unaffordable for the middle class. The estimated $4 trillion spent since 9/11 on the war on terrorism and billions spent on political campaigns have trickled down so extravagantly to the New Class settled around Washington’s Beltway that they have remade the landscape of our capital." Mike Lofgren
The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.