Posted Apr 14, 2016 by Martin Armstrong
COMMENT: Marty, you hit the nail on the head. Nobody looks at these fines against the banks as you have. You are right. The shareholders pay the price to keep the bankers out of prison who still get their bonuses. It is one giant fraud upon the shareholder. They use the shareholder capital for personal insurance. Why would you own a bank stock?
REPLY: Yes. Just look at the Dow Jones Financial index. It is nowhere near its 2007 high. You need a quarterly closing above 49510 to signal a rally or a quarterly closing below 38730 will be a major sell signal. This is what I have been talking about. The markets show you reality. The bank stocks are something to stay away from. The shareholders pay for the crimes of the bankers while the bankers still get their bonuses and have their get-out-of-jail-free card. Stay away from bank stocks. You are only a slush-fund for the bankers for there is never a criminal prosecution of anyone who designs these frauds because they hand piles of money to the Department of Justice and everyone is happy while government can PRETEND to be policing the bankers. This is like locking up your wife and kids because you were speeding on your way to work.