Crisis? What crisis?
“He said bank CEOs would not want to ‘gravitate toward fast recognition of losses’ by prematurely going to the government without trying to solve problems on their own. Getting capital from the government might undermine the financial company’s management and make shareholders nervous.”
Investors seeking a bottom brace for more uncertainty as government moves to shore up banks, Courant.com, October 12, 2008
Shareholders shouldn’t be nervous or feel a lack of confidence in the clown management that made this mess. Shareholders should be fucking freaking out.
