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Non-Tech : F'n Banksters......
GS 879.28-0.6%Dec 31 3:59 PM EST
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To: microhoogle! who wrote (6)5/3/2010 11:49:45 AM
From: nnillionaire   of 8
 
M,

"Producing products out of thin air and selling them... uh wtf?"

Only because congress made it legal in the late 1990s. Charlie's point was that somebody in business will stretch to take as much risk as they are allowed to take. Some businesses are constrained by financial constraints, some by physical constraints. Banks are only constrained by Congress and it is Congress that eliminated those constraints in the late 1990s.

Hope you understand.

nnil
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