Posts Tagged ‘Berkshire Hathaway

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.”




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