In the past year, bank fees for MLP deals totaled $890.3 million, led by Barclays Plc with $126.7 million, Citigroup Inc. with $96.7 million, and JPMorgan Chase & Co. with $78.2 million, data compiled by Bloomberg show.
"MLPs are Wall Street's dream," Kaiser said in a phone interview. "They're fee machines."
Never have make sense as far as valuations are concerned. Unwary folks that need income invest and have done well doing so. When they can no longer sell stock to pay distributions the ponzi game is over. They will work til they stop working.