March 31, 2008
– Comments (2)
The USA: The Great Depression 2008...
Saw the one above on Financial Armageddon.
He's found another good one about private equity.
"How was it possible that so many people were so thoroughly duped by the shambolic financial alchemy of overbidding for companies, loading them up with large amounts of debt, and then sucking the life out of them with fees and special dividends"
If you dig into financial reports you will find a great deal of this kind of stuff.
I see complaints on the blogs about not writing information about stocks. I find that I have spent a lot of time looking at stocks only to find they are a disaster. It seems like the stock market has become a place for con men to play their cons legally...
And even another good, about moral hazard.
The US government should take lessons from these guys. A law was passed to let them take 100% control if a bank falls into negative equity and shareholders get zero.