Thread: FirstInlandBank
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Old 27th October 2011, 05:26 PM
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Default Re: FirstInlandBank

Originally Posted by SirVee View Post
SLS is doing a good job in getting at executives who stole funds - people who were once untouchables.

Where does this recovered monies go to? Who in this forum can educate us on where this recovered monies go to?

My issue with SLS which a lot of folks have mentioned in this forum are his 'comments', they do not help the situation at all. A high profile person watches his coments on very sensitive economic issues. Destructive comments are the bane of a fledgling market like the NSE

1. Stock holders did not steal the monies that they invested (?). Shareholders were invited and courted by the corporate world to bring in their funds!
2. Shareholders are not gamblers and greedy people as they are being portrayed by his (SLS) interventions.
3. Shareholders deserve some protection. Could retail shareholders have stopped the looting in these banks?
4. Can a nation survive without the capital market?
The properties and money recovered belong to AMCON.

Here's my answer to your individual questions,

1, If you read the fine print written in every advert for public offers, you're advised to consult experts for details. Now if you consult any expert, lawyer for example, one of the things they'll tell you is that your money can go "poof" up in smoke.

2, actually shareholders are probably the most greedy type of investor there is. If you no greedy go buy USA treasury bills and keep till maturity

3, Actually retail shareholders were in a position to stop the rut but they decided to look the other way, thus deserve no protection.

4, yes a nation can survive without a capital market, in fact Cuba, a country with one of the highest literacy rates in the world, doesn't have a capital market.
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