1. Diversify your holdings. Don't place the lion's share of your net worth in one investment
2. Don't expand your business just for the sake of expanding. How many offices were never staffed by First Bank and are now being sold because the chosen area couldn't justify a branch?
Mister Willetts was the captain of the ship, and he chose to move full speed ahead until he hit an iceberg labeled "inadequate diversification and excessive, unwarranted growth."
This story strikes me as a business announcement more than real news, because it's basically a human NON-interest story. Far more interesting would be stories about the 200+ people who lost their jobs or the thousands of investors who saw their money evaporate in bankruptcy court.
Good luck in your future career, but I'll pass on your services. You already cost me enough money. I'm just glad I got out when I did, and didn't take the elevator ride down to the basement like so many others who still believed in you.
I'll bet that you won't recommend Fannie Mae or Freddie Mac, will you????
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