Quote of the Day: How Banks Lose Money

Thursday, January 03, 2008 | 03:30 PM

This is a classic:
>

"I don't know why the banks had to find new ways to lose money when the old ones were working so well."

>
-Wells Fargo CEO John Stumpf, as quoted by Warren Buffett      


>
>

>'

Thanks, Eric!



Thursday, January 03, 2008 | 03:30 PM | Permalink | Comments (10) | TrackBack (1)
de.li.cious add to de.li.cious | digg digg this! | technorati add to technorati | email email this post

bn-image

TrackBack

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c52a953ef00e54fbe272d8833

Listed below are links to weblogs that reference Quote of the Day: How Banks Lose Money:

» On the day NAB blamed US subprime crisis for mortgage rate rise from Trevor Cook
The Big Picture | Quote of the Day: How Banks Lose Money. I don't know why the banks had to find new ways to lose money when the old ones were working so well. -Wells Fargo CEO John Stumpf, as quoted by Warren BuffettNews.com.au - A spokeswoman for NAB... [Read More]

Tracked on Jan 4, 2008 4:29:33 AM

Comments

*chuckle*

As quoted by Eric, Quoting Buffett, Quoting Stumpf.
...

How the hell can banks lose money with a 9:1 Reserve ratio..... With a 5% return that is damn near 50% ROI....(or would that be ROOPI(Return on other peoples investment)
And here we are fighting out 3% on the SP500, with 2.5% inflation(snark)

Posted by: Eric Davis | Jan 3, 2008 4:24:37 PM

The comments to this entry are closed.



Recent Posts

December 2008
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      

Archives

Complete Archives List

Blogroll

Blogroll

Category Cloud

On the Nightstand

On the Nightstand

 Subscribe in a reader

Get The Big Picture!
Enter your email address:


Read our privacy policy

Essays & Effluvia

The Apprenticed Investor

Apprenticed Investor

About Me

About Me
email me

Favorite Posts

Tools and Feeds

AddThis Social Bookmark Button

Add to Google Reader or Homepage

Subscribe to The Big Picture

Powered by FeedBurner

Add to Technorati Favorites

FeedBurner


My Wishlist

Worth Perusing

Worth Perusing

mp3s Spinning

MP3s Spinning

My Photo

Disclaimer

Disclaimer

Odds & Ends

Site by Moxie Design Studios™

FeedBurner