Posted Nov 18, 2015 by Martin Armstrong
Wait long enough, and the coin always flips to the other side. The rumors circulating is that the NY Federal Prosecutors are at last looking to file criminal charges against bankers in Royal Bank of Scotland & J.P. Morgan for selling faulty mortgage backed securities that the KNEW were bogus. The cycle has turned. Bankers better be on guard. When the economy turns down even harder thanks to structured deals of debts to hide problems as in Greece, those in the decision making positions may find themselves criminally charged as the people get pissed off at politicians and the corruption. You can argue all you want against cycles, but everything runs its course and then flips. There is no exception. Our model on the banker fortunes turned in 2013. We have see huge fines and the Europeans are getting out of the game.