Why the Latest Big Bank Scandal Is Worse Than Usual

29 | By Shah Gilani

Yesterday, Wells Fargo & Co. (NYSE:WFC) – America’s third-largest bank by assets and one of the “Big Six” too big to fail banks – got hit with a $190 million fine from the Consumer Financial Protection Bureau.

This isn’t surprising. In fact, big banks get hit with hefty fines for shady activity all the time.

But yesterday’s judgment against Wells Fargo is different. And the reason why is downright disturbing.

What happened at Wells Fargo is an indication that the corrupt culture of big banksters is so pervasive that it infects everyone, from the billionaires at the top all the way down to salespeople on the bottom rung of the corporate ladder.

Today, I want to take a close look at Wells Fargo’s latest misstep, and contrast it with some other big bank skullduggery to show you just how different this scheme is than what we’ve seen in the past – and what that’s a problem.

Let’s take a look…

Why The Next 30 Days Are Crucial for Markets – and Your Money

2 | By Shah Gilani

As sure as your summer tan is going to leave you pale, the coming market volatility will turn you white with fear if you’re not prepared.

Sure enough, volatility’s been reasonably subdued this summer… but summer’s over.

When most investors think about volatility they think about the VIX, the Chicago Board Options Exchange (CBOE) Volatility Index. Often referred to as the fear index, the VIX represents one measure of the market’s expectations of market volatility over the next 30 days.

And the next 30 days are absolutely crucial to the markets.

Here’s why everything’s about to get volatile.