Billionaire investor believes ‘CEO and directors should suffer’ when banks they run get into trouble
Larry Elliott: can Biden escape fallout from US banking crisis?
The billionaire investor Warren Buffett has said executives who led the US banking system into crisis should face “punishment”, as the American economy grapples with the worst series of bank failures since the 2008 financial crash.
The legendary owner of the investment firm Berkshire Hathaway said that US bank directors “should suffer” when they run into trouble, adding that he was wary of most banking stocks because of “the messed-up incentives”.
Continue reading…Billionaire investor believes ‘CEO and directors should suffer’ when banks they run get into troubleLarry Elliott: can Biden escape fallout from US banking crisis?The billionaire investor Warren Buffett has said executives who led the US banking system into crisis should face “punishment”, as the American economy grapples with the worst series of bank failures since the 2008 financial crash.The legendary owner of the investment firm Berkshire Hathaway said that US bank directors “should suffer” when they run into trouble, adding that he was wary of most banking stocks because of “the messed-up incentives”. Continue reading…