Sunday, August 16, 2009

Some more companies to stay away from

In order to further strengthen its core franchise Swedbank announces fully underwritten SEK 15 billion rights offering this failing institution says in a pressrealize today. Apparently Folksam Liv and Folksam Sak, two of the main owners, have decided to guarantee some of these billions which mean that those two are two other companies to stay away from. Swedbank is a horrible institution that recently needed their second bail-out from the Swedish government in less then 20 years and they have still not coped with all their billions in losses from the Baltic and Eastern European states. In other words the Swedish taxpayers continue to support and pay for overpaid economists, bankers and investors at a bank that should have gone down a long time ago. I have said it before and I will say it again, if you are a customer at this bank, leave it and leave it now. Also those investing in this bank will take heavy losses in the future, stay away from those too. And for God's sake, never buy any stocks or anything that has to do with this utter stupidity.

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