06
May
13

Berkshire Hathaway’s Charlie Munger says everything you need to know about bankers

Warren Buffet’s right-hand man:

Berkshire Hathaway Caricatures“You can’t trust bankers to govern themselves. A banker who’s allowed to borrow money at X and loan it out at X plus Y will just go crazy and do too much of it, if the civilization doesn’t have rules that prevent it.”

 “What happened in Cyprus was very similar to what happened in Iceland, it was stark raving mad in both cases. And the bankers, they’d be doing even more if the thing hadn’t blown up. I do not think you can trust bankers to control themselves. They’re like heroin addicts.”

Advertisements

0 Responses to “Berkshire Hathaway’s Charlie Munger says everything you need to know about bankers”



  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


WTF?

The Ministry of Culture is a blog (duh!) about whatever interests me, a professional journalist. It looks at current events, culture -- rock & roll, literature, roller derby, opera, comedy -- military history and whatever else crosses my path. All opinions are my own.

Contact

curseyoukhan (AT) gmail dot ...

Enter your email address to follow this blog and receive notifications of new posts by email.

Books I’ve read recently


%d bloggers like this: