Sign In | Register

Uncle Warren got pwnd

“Large numbers of people who have ‘lost’ their house throughdigitalserf02/27/12
The poor banks. Cry me a river.AtheistLawyer02/27/12
The profitability of the banks doesn't affect the bankers' wTheImmigrant02/27/12
digitalserf (Feb 27, 2012 - 8:13 pm)

“Large numbers of people who have ‘lost’ their house through foreclosure have actually realized a profit because they carried out refinancings earlier that gave them cash in excess of their cost,” Buffett, chairman and chief executive officer of Berkshire Hathaway Inc. (BRK/A), said Feb. 25 in his annual letter. “In these cases, the evicted homeowner was the winner, and the victim was the lender.”

http://www.bloomberg.com/news/2012-02-27/buffett-says-banks-victimized-by-evicted-homeowners-who-emerged-as-winners.html

Reply
AtheistLawyer (Feb 27, 2012 - 8:22 pm)

The poor banks. Cry me a river.

Reply
TheImmigrant (Feb 27, 2012 - 8:37 pm)

The profitability of the banks doesn't affect the bankers' wealth. The losses get socialized.

Reply
Post a message in this thread
Forums

Archives