Usually, it takes time for the complete history of an event, to be properly written. The 2008 Sub-Prime Mortgage Crisis continues to be re-assessed by experts. Even in 2016,”The Midas Legacy” is warning its clients about the dangers of 2008.
So, what were the long-term ramifications of 2008? The global elite suggested that global Capitalism would collapse without a bailout. Why did the British call this calamity, the Credit Crunch? How is Deutsche Bank a link to 2008 and 2016?
“The more things change …”
An economic crisis might look very different, depending on your perspective. The homeowner who had his property foreclosed upon in 2005 might have said the crisis started then. The man declaring bankruptcy in 2006 might have said the crisis started then. When Lehman and Bear Stearns went bankrupt in 2008, bankers said the Sub-Prime Mortgage crisis started then.
Under British banking law, financial institutions were required to sell “well-fitting” financial instruments. When the crisis reached England, they shut down their old financial regulatory agency and created a new one. They also “highlighted” the fact that “capital markets were seizing up.” Financial institutions no longer trusted one another – destroying the foundation of banking.
“Did Deutsche Bank Mis Sell Mortgages?”
In September 16, 2016, the United States Department of Justice fined Deutsche Bank $14 billion for having “mis-sold financial instruments” in 2008. There are many problems with this action: 1. Jurisdiction, 2. Crime Description, 3. Statute of Limitations and 4. Bailout. The important element is that it shows that 2008 crimes are still relevant in 2016.
The United States government has no real jurisdiction in the European Union or in Germany. The “crime of mis-selling financial instruments” is a British concept. Surely, the statute of limitations must have expired for this financial fraud, after eight years. Finally, why did the United States bail out a bank, which committed a crime? Is that not “aiding and abetting in the commission of a crime?”
“Focus on Fundamentals”
“The Midas Legacy” is all about remaining faithful to economic fundamentals. Mr. Bower warns his clients about “potential losses, similar to 2008.” If stocks go down, then “shorting” can become a profitable strategy.
Unfortunately, the continued travails of Deutsche Bank suggest a deeper problem with the financial markets. Just as Lehman Brothers collapsed in 2008, Deutsche Bank’s troubles in 2016 could drag everything down. Prepare now with “The Midas Legacy.”
Check out the Midas Legacy’s “about” page for more info about the company: http://themidaslegacy.com/about-us/