Download short version

Survey
yes no Was this document useful for you?
   Thank you for your participation!

* Your assessment is very important for improving the work of artificial intelligence, which forms the content of this project

Document related concepts

Land banking wikipedia , lookup

Debt wikipedia , lookup

Financialization wikipedia , lookup

History of the Federal Reserve System wikipedia , lookup

Fractional-reserve banking wikipedia , lookup

Interbank lending market wikipedia , lookup

Bank wikipedia , lookup

Transcript
“The Best Way to Rob a Bank is to Own One”




1.
2.
3.
4.
When a senior officer deliberately causes bad loans
to be made he does not defraud himself
He defrauds the bank’s creditors and shareholders, as
a means of optimizing fictional accounting income
It pays to seek out bad loans because only those who
have no intention of repaying are willing to offer
the high loan fees and interest required
Grow really fast
Make really bad loans at higher yields
Pile up debts
Put aside pitifully low loss reserves