Paul McCulley: “Banks are many things, but at their core, they have a public utility function, access to the payments system”

Kelton: This week, the Senate voted to shield Wall Street from consumer lawsuits. Does that concern you? McCulley: Speaking of smell tests of social justice: This Senate action flunks, very bigly! Banks are many things, but at their core, they have a public utility function, access to the payments system — the highway, if you will, on …