Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
A Decade After Lehman Collapse, Investors Still Shun Bank Stocks
FYI: Time may heal all wounds. But the decade since the collapse of Lehman Brothers Holdings Inc. hasn’t been long enough to restore investors’ faith in banks.
I certainly don't trust them. It would appear that banks can pretty much do whatever they want and walk away with little to no punishment and most certainly no personal responsibility whatsoever. There's that and they never quit asking for more.
Likewise, for me, I do see that they are making money again, hand over fist. Lots of it illegally and immorally--- check WFC. My ethical filter won't let me buy bank stocks. Those scumpigs don't deserve any of my money.
Pretty much this for me, too. And I refuse to touch bank preferred stocks, or have exposure to them, since they're almost always 'non-cumulative' ... meaning if they're forced to suspend their dividend, you aren't entitled to the ones you missed once they resume. In such cases, you're essentially giving the bank an interest-free loan. Not to mention, Wall Street hasn't learned from '08, regulations and oversight are being politically reversed or eliminated, and there are undercurrents that they're up to the same old games as before.
So no, they and their stocks can take a long walk off a short plank. At least in my portfolios.
I certainly don't trust them. It would appear that banks can pretty much do whatever they want and walk away with little to no punishment and most certainly no personal responsibility whatsoever. There's that and they never quit asking for more.
Comments
@Mark- Boy, you're sure picky!
Pretty much this for me, too. And I refuse to touch bank preferred stocks, or have exposure to them, since they're almost always 'non-cumulative' ... meaning if they're forced to suspend their dividend, you aren't entitled to the ones you missed once they resume. In such cases, you're essentially giving the bank an interest-free loan. Not to mention, Wall Street hasn't learned from '08, regulations and oversight are being politically reversed or eliminated, and there are undercurrents that they're up to the same old games as before.
So no, they and their stocks can take a long walk off a short plank. At least in my portfolios.