And not one banker been sent to jail?
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There are risks and returns in any type of business. It is same for banks. Those who have some kind of plan for those types of risks will survive and will continue their business.
There are things which come to my mind.
How much exposure they have for derivatives (this include swaps as well)
Are they over exposure to some currencies?
Are they over exposure to gold?
Do they have some bad investments?
Are they over exposure to certain type of areas such as property or other assets?
Which bank can name as the best managed bank in New Zealand and why?
I prefer to deal with best managed banks globally. They are safe and they will have more market share in the coming decade. I like to avoid banks which are exposure to high risk areas.
In the mid and long run best managed banks will have more market share and they will outperform all other weak banks. We may see some bankruptcies as well in the coming two decades unless banking industry fix their financial system once and for all.
Some say real crisis is bank bonds not banks.
All these types of situation create great opportunities for some and misfortunes for some depend on the positions taken by banks, other financial institutions, investor or traders. For example Volatility in bonds, currencies and bank stocks all create opportunities as well as misfortunes.
There could be so many crisis but they are creating some great opportunities as well. In the modern financial world everybody cannot win at the same time at same pace.
We should see some volatility in October as well. However we should see more upside toward second half of October.I believe some will have Santa Claus Rally as well.
Not one banker went to jail? Not true, but, from the CNN article stoploss quotes-
"Many of the crimes involved relatively small amounts of money at smaller banks, rather than massive fraud at Wall Street banks."
Too big to fail = too big to jail
Your more right than you realise!
Found this interesting article a few weeks back. These guys are known, just never taken to trial:
Massachusetts Senator Elizabeth Warren is marking the eighth anniversary of Lehman Brothers’ bankruptcy with a new push to investigate—and potentially jail—more than two dozen individuals and corporations who were referred to the Justice Department for possible criminal prosecution in 2011 by the Financial Crisis Inquiry Commission, a government-appointed group that investigated the roots of the 2008 financial crisis. None was ever prosecuted. The names of the referrals—including former Treasury Secretary Robert E. Rubin
http://www.bloomberg.com/politics/ar...izabeth-warren
Crime Documentary Inside Job..
Worth a look..