Tuesday, February 14, 2012
Who Says Bankers Are Morons?
Irmgard Greiner in Germany is who. She was sold a investment by her bank that sequestered a portion of her wealth for 20 years. She would 108 years old when her money became available. Despite an ombudsman's ruling against the bank, it refuses to disgorge her money. As a result of its refusal to give her 40K euros back, the bank lost 500k euros in accounts and investments plus control over the money, as -- I assume -- executor after she dies. Morons like these caused the economic collapse. Idiots like David Brooks think its the fault of poors who refuse to be "bourgeois" and that all we need is some damned disciplining of the poors by the riches and all will be well.