Quote:
Originally Posted by shakran
well, the argument, ace, is that the institutions that made bad decisions have a lot of people's money wrapped up in them. If they fail, what happens to the innocents who didn't know what these idiots were doing with their money because the idiots wouldn't tell them?
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Innocents???
Greedy perhaps. When I lived in California and the towel guy at my gym started talking about flipping houses, I should have sold everything that day.
People should not invest in things they don't understand. People who invested in companies like AIG and never read the 10K or 10Q reports pretty much paid the price for blindly gambling with their money. Equity investing comes with the understanding that one could loose everything.