Make Shareholders Pay for a Company's Crimes
There has been some truly awful spin made in response to the recent criminal prosecutions of large banks, but this one takes the cake.by
I don't know what all these banks did to deserve all this but once again, when you are fining the bank, you are fining the shareholders of the bank who had nothing to with what management did. So if management did something egregious or criminal go after the people that did it and stop taking the shareholder's wealth.
-- Howard Ward, chief investment officer at Gamco Investors
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