They think they can “do no wrong even as they’re losing money.”
Financial Engineering Backfires.
Since none of the criminal bankers responsible end up in prison.
And US banks to report worst quarter since the Financial Crisis.
Something has to give.
A Culture of Acceptance.
Everyone but China.
Distress ratio spikes to Financial Crisis level.
SEC gets edgy. Investors get crushed.
Something broke in the gears of financial engineering!