Inglorious Banksters

It never ceases to amaze me why investors continue to buy the shares of Irish Banks, when I stop to consider the prolonged list of (not so kosher) activities that they have had a hand or part in over the last 20 odd years.

In my eyes, the whole 'Institution' of Banking is supposed to be based on Trust, Honesty, Integrity and a bunch of other characteristics that typify good moral fibre.

Pause for a moment to consider the following Banking 'issues' :

Bogus Non-Resident Accounts, Overcharging (everything from foreign exchange to mortgages), Rogue Trading, Tax Evasion, Misselling of financial products to elderly, 'Exceptional Support' of another Bank, 100% Mortgages, Concealment of Personal Loans, Failure to ensure the accuracy of Regulatory Reports and, of course, the 'big' one that has given rise to NAMA.

I am sure there is probably a bunch of other issues that I may have failed to include, but investors continue to buy shares in these companies even though they are aware of these matters of contention.

I do business with companies and individuals because I trust them.

Why would I buy shares in these Banks? Or, why would I hold on to the shares if I was holding them?