Bank stocks had a surprisingly good day Friday, outperforming the rest of the market after it became clear that financial reform legislation hammered out in Congress would not meddle with precious bank profits.
The geniuses on Wall Street have found another way to gamble and call it investing. Forget about mortgage-backed securities (wouldn’t that be nice?). Life insurance securitizations are the new hotness on Wall Street. And the fun part is, they make more money when you die faster.