Charlie Munger on How Bad Lending Occurs
By nfi on Wed, 2008-11-12 09:07
(via www.noisefreeinvesting.com)
In chemistry, if you mix items that explode in combination, you always get in trouble until you learn not to allow the mixture. So also, in the American banking system. To us, a lot of foolish, unproductive lending and many bank insolvencies are the natural consequences, given existing American banking culture, of the combination of the following two elements ...
Recent comments
6 hours 45 min ago
2 days 4 hours ago
2 days 9 hours ago
5 days 22 hours ago
3 weeks 5 days ago
4 weeks 6 days ago
7 weeks 2 days ago
8 weeks 8 hours ago
8 weeks 8 hours ago
8 weeks 8 hours ago