CHARLIE MUNGER: You Can't Trust Bankers Because They're 'Like Heroin Addicts'
May 3, 2013, 22:15 IST
Warren Buffett's right-hand man at Berkshire Hathaway, Charlie Munger, told CNBC this morning why he doesn't think you can trust bankers to govern themselves.
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"I don't think you can trust bankers to control themselves. They're like heroin addicts," he said.
The famed 89-year-old investor used the recent banking crisis in Cyprus as an example. He said it was very similar to what happened during Iceland's financial meltdown a few years ago.
Watch him explain in this video clip from his interview with CNBC's Becky Quick:
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