Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: maceng2 who wrote (73343)	5/5/2010 5:42:55 AM
From: Maurice Winn	1 Recommendation Read Replies (1) of 74559

Steady on... bankers are not evil-doers. They just accept deposits, keep track of the money, and lend it to other people who want to borrow money. The banks lose money if they make bad loans. Unfortunately for the bank shareholders, the managers loaned too much money, and the mortgagors got in over their heads thinking that property prices only go up. Bank shareholders have a job to do and it's evaluating managers of companies and the business opportunities. If shareholders do a bad job, they deserve to be fired, and they are fired. Whining because they lose their money is silly, though they seem to have got governments to provide money to keep the banks solvent and the shareholders back in the money. Many of we shareholders lose money by making bad judgments - it's annoying to see particular shareholders benefit from government largess. It was notable that Warren Buffett knew that governments would provide money to the shareholders so he bought in during the panic to gain from the government funding. Mqurice

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