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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: upanddown who wrote (134888)	6/14/2010 1:11:31 PM
From: ChanceIs	3 Recommendations Respond to of 206184

>>>They are entitled to share in the good fortunes of the company but they must also accept their share of the costs of the misfortunes.<<< Really!?!?!?! It sure doesn't work that way with banks. Someday I might start taking Grant's Interest Rate Observer. James Grant is a sharp fellow. I have an autographed copy of his most recent book, Mr. Market Miscalculates in the bookshelf. To the point: Grant almost believes that we should return to the gold standard. But he ...LOVES...JUST LOVES...to talk about the good old, pre-FDR, New Deal Days when bank shareholders had "double jeopardy." "Double jeopardy" implied that not only could the holders of shares in banks lose all of their equity position...but...they could be forced to make the depositors whole. Sounds like fun to me. Might even make the shareholders go to annual meetings and ask silly questions like....'you wouldn't be lending at 100:1 leverage or making NINJA loans on houses which have appreciated 150% in the last two years?' Sounds like a great idea to me. I think that Grant thinks that we should bring back the pillory. He may be on to something.