Bank stocks should be over a $1000 a share. Look at the cushy deal they get. They can break the law and never be charged. They can be insolvent and use the Federal Reserve to prop them up. They can engage in any unregulated Ponzi they want with no risk. They can offer substandard products to their customers and still turn a profit. They can foreclose on homes that don't even own and get away with it. They are allowed to hold trillions in toxic derivatives on a separate set of books, off their balance sheet. They can ripoff their own stockholders and just shrug. They can launder derivatives from their investment banks to FDIC insured accounts in their commercial banks.
I mean, they can do all the wrong they like, suffer no losses, have the taxpayers provide a safety net, and even pretend they are reputable businesses.
So, with that gold standard, the Banks should be worth $1000 a share. Minimum.
What a success story!
Read the Article at HuffingtonPost
No comments:
Post a Comment