The oracle owned some shares in this obviously poorly managed bank. When federal regulators take over a bank it is not because there are not enough pens in the lobby. They made loans to people who, if you shook their hand, would prompt you to check to see if your watch and ring were still there. Non-performing loans to non-performing people. So like the guy who learned "if it flies, floats or etc...lease it" I picked up another lesson from all this. The best investment is an investment in yourself and your own business. Sure, I continue to invest in stocks and bonds in companies that are publicly traded that seem to produce income and appreciation (not that that is not a con-game in its own right). If you have a fly-by-night scheme to do anything, and need capital to get it off the ground...give me a call. My number is 555-......
In this era of no-accountability and moral relativism, maybe this deserves a lawsuit against the officers and board of the bank who clearly exercised poor judgement (maybe even wild and reckless disregard for sound banking principles) and lost investors' money. They probably have insurance for that sort of thing. I am going to ask my family attorney, Sharkey.
No comments:
Post a Comment