financial reality

Separating fact from fiction in finance and economics


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  • InLibrisLibertas
    Location : Mill Valley, California, United States

    I'm an independent investor. I make my living from the returns on my investments. I work at home, in the northern part of the San Francisco Bay area. I spent most of my career as an executive in high-tech, although I also spent time in banking. Down to one kid in university now!

Bagholders Sue

April 11th, 2007 by reality

Naturally the other side of the coin from the borrower victims shows the lender victims. At least some of the lender victims have figured out that the Wall Street big boys were collecting all the money here - check those bonuses from 2006 - while taking none of the risk. So they are, per Bloomberg, suing. Lots of luck, lenders, you bought junk bonds and that’s what they turned out to be. Unfortunately, looks like at least a few people stuck their life savings in this garbage.

I must admit I’m sympathetic, the behavior of the big Wall Street firms is unconscionable. Fortunately for them, conscience is not something they are burdened with.

Posted in Manias, Real Estate, Retirement, Rogues and Rascals |

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