Munger on Banks

6:57 AM  Pisstol Aer   Labels: , ,
Charlie doesn't say a whole lot but when he does it is usually pretty direct.

He sees:

"Evil and Folly" of Banks

"Evil and folly have crept into our system at steadily increasing amounts. And finally it helped create a catastrophe for everyone, created the biggest economic threat since 1930s." - Charlie Munger

and,

Would like a 100% ban on Credit Default Swaps

"It isn’t as though the economic world didn’t function quite well without it, and it isn’t as though what has happened has been so wonderfully desirable that we should logically want more of it." - Charlie Munger
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Munger on Banks
Munger on Banks
Reviewed by Pisstol Aer
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Rating : 4.5