7th April 2008. There have been millions of words written about the latest financial meltdown, so I will not bore you excessively with too many more. It seems to me, however, that many of the latest Australian problems have been due to directors buying shares in their own company on margin calls.
Our Securities monitoring organizations will chase Joe Ordinary to the end of the earth for insider trading over a comment on an obscure website, but turn a blind eye to these directors actively trading their own company shares by the millions.
I guess though I am naive to think the sharemarket has anything to do with investing, or that the current problems had anything to do with a severe lack of ethics amongst superannuation fund managers, share repositories,margin lenders, bankers and stockbroking firms.
And as usual Banks are keen to privatise their profits and nationalise their losses
‘Money can’t buy happiness, but it can buy you the kind of misery you prefer’
