Wednesday 21 February 2018

Roman, you gambled on our banks and lost. Get over it

Children languish on waiting lists as State prioritises bondholders, says John Crown

We've all heard that annoying little sound bite at the end of radio advertisements for financial services. "So-and-so is a leveraged product, and you may lose more than your original investment. Investments may go down as well as up."

Telling non-brain-dead people that no investment is guaranteed sounds a little obvious, a bit like the product liability warnings on American consumer goods (brilliantly parodied by George Will in his "sled is not edible -- do not eat sled" gag).

People who buy houses, stamps, stocks, shares and yes, bonds, know that their investment may go down as well as up. I, for one, have never sold a house I didn't lose money on.

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