Here’s a question. Has a bank ever made any money in the long-term for it’s shareholders?
Yes shareholders have had dividends along the way, but the banks’ share prices have been almost wiped off the face of the earth. For Northern Rock and Lehman’s shareholders all has been lost. I know it is in vogue to bash bankers, but it seems to me much of their profit in the past has been through cheating and gaming the system. Bank share prices rose because of record profits and ever higher dividend payouts. But those profits were often gained illegally and redress is due to those who have been ripped off. Continue reading “We’re Busy Doing Nothing”