You've gotta wonder about a financial institution that pays $7 billion to settle a government investigation into its sales practices regarding mortgage backed securities.
And you've gotta wonder about a government that lets them off the hook for money.
$7 billion to stop an investigation from proceeding any further.
What would they have found?
Is this why bankers are dying left and right all over the world?
What if banking is not about safe-keeping and more about institutionalized theft?
And what if the government is in on it?
We know that a quasi-government institution (one that has private shareholders) openly targets asset prices in order to create a wealth effect, which is really just another word for confidence.
But how confident would people be if they knew the extent of the entire money scam?
The answers will only be known in the fullness of time. Until then, the focus remains on the market, the S&P 500.
The arc may be busted. Based on this chart, the S&P would need to rally to approximately 2025 this week to save it.
I'm more interested in what happens when it gets into the 1973-1980 range. That area may have seemed like a long shot on Friday, but with futures up strongly this morning, it's looking more like reality.
Then maybe price fulfills the wedge scenario to the 1925 area.
Or it retests the 1985.59 high.
Too much to try to answer on a summer Monday after a summer weekend kicked off by a summer Friday.