As if the recent comments of Buffet's little sock-puppet Charlie Munger to "let them eat cake" comments were not bad enough, we have to put up with this self-serving drivel from "The Oracle" himself.
First Buffet's letter to Uncle Sugar in Washington, who bailed out these self-described geniuses.
They will get the free government handouts and you will get the bill.
And then to top it off, the guy complains that he may have had to endure Thanksgiving at McDonald's? Oh, the indignity!! Mr. Buffett has to go to McDonald's to eat!!!
What happened to the populist "Everyman" image you and CNBC worked so hard to craft while you slimeballs were feeding at the public trough? Are you too good for McDonald's now?
All this while people across the country are still suffering and NOT receiving bailouts from Uncle Sugar Daddy in DC.
Are you serious?
FROM THE NEW YORK TIMES:
http://www.nytimes.com/2010/11/17/opinion/17buffett.html?_r=2&hp
DEAR Uncle Sam,
My mother told me to send thank-you notes promptly. I’ve been remiss.
Let me remind you why I’m writing. Just over two years ago, in September 2008, our country faced an economic meltdown. Fannie Mae and Freddie Mac, the pillars that supported our mortgage system, had been forced into conservatorship. Several of our largest commercial banks were teetering. One of Wall Street’s giant investment banks had gone bankrupt, and the remaining three were poised to follow. A.I.G., the world’s most famous insurer, was at death’s door.
Many of our largest industrial companies, dependent on commercial paper financing that had disappeared, were weeks away from exhausting their cash resources. Indeed, all of corporate America’s dominoes were lined up, ready to topple at lightning speed. My own company, Berkshire Hathaway, might have been the last to fall, but that distinction provided little solace.
Nor was it just business that was in peril: 300 million Americans were in the domino line as well. Just days before, the jobs, income, 401(k)’s and money-market funds of these citizens had seemed secure. Then, virtually overnight, everything began to turn into pumpkins and mice. There was no hiding place. A destructive economic force unlike any seen for generations had been unleashed.
Only one counterforce was available, and that was you, Uncle Sam. Yes, you are often clumsy, even inept. But when businesses and people worldwide race to get liquid, you are the only party with the resources to take the other side of the transaction. And when our citizens are losing trust by the hour in institutions they once revered, only you can restore calm.
When the crisis struck, I felt you would understand the role you had to play. But you’ve never been known for speed, and in a meltdown minutes matter. I worried whether the barrage of shattering surprises would disorient you. You would have to improvise solutions on the run, stretch legal boundaries and avoid slowdowns, like Congressional hearings and studies. You would also need to get turf-conscious departments to work together in mounting your counterattack. The challenge was huge, and many people thought you were not up to it.
Well, Uncle Sam, you delivered. People will second-guess your specific decisions; you can always count on that. But just as there is a fog of war, there is a fog of panic — and, overall, your actions were remarkably effective.
I don’t know precisely how you orchestrated these. But I did have a pretty good seat as events unfolded, and I would like to commend a few of your troops. In the darkest of days, Ben Bernanke, Hank Paulson, Tim Geithner and Sheila Bair grasped the gravity of the situation and acted with courage and dispatch. And though I never voted for George W. Bush, I give him great credit for leading, even as Congress postured and squabbled.
You have been criticized, Uncle Sam, for some of the earlier decisions that got us in this mess — most prominently, for not battling the rot building up in the housing market. But then few of your critics saw matters clearly either. In truth, almost all of the country became possessed by the idea that home prices could never fall significantly.
That was a mass delusion, reinforced by rapidly rising prices that discredited the few skeptics who warned of trouble. Delusions, whether about tulips or Internet stocks, produce bubbles. And when bubbles pop, they can generate waves of trouble that hit shores far from their origin. This bubble was a doozy and its pop was felt around the world.
So, again, Uncle Sam, thanks to you and your aides. Often you are wasteful, and sometimes you are bullying. On occasion, you are downright maddening. But in this extraordinary emergency, you came through — and the world would look far different now if you had not.
Your grateful nephew,
Warren
FROM BUSINESSINSIDER.COM
http://www.businessinsider.com/warren-buffett-if-the-bailout-didnt-happen-i-would-be-eating-dinner-at-mcdonalds-2010-11#ixzz15Y6xIq00
Then he dropped this line, which sounds like an exaggeration:
"If the government hadn't acted, I would be eating Thanksgiving dinner at McDonald's."
A lot of these guys should be more concerned about swinging from a lamp post than where their next Thanksgiving meal is coming from.
Nothing but a bunch of thieves and liars masquerading as geniuses.
Dear Mr. Buffett:
DROP DEAD YOU RAT BASTARD!!!
1) Don't thank the government, when it is we, the taxpayers, who will ultimately pay the bill to save your sorry ass.
2) We remember what you fail to mention in your letter -- that the financial bailouts predominantly benefited the elite, the ruling class and their cronies -- who were responsible for getting us into the mess in the first place.
3) We do know that we -- "the McDonlad's eaters" were not aided in any way. In fact, quite the opposite. Millions unemployed, tens of thousands losing their houses and / or life savings. And you complain about having to eat at McDonald's?
You and your fellow thieves, like Charlie Munger and Lloyd "Doing God's Work" Blankfein, had better pray that if as expected, QEII is as big a failure as QEI was, the "Torch and Pitchfork 2.0" crowd doesn't make a detour to Omaha on its march to Washington DC.
You act like "Thanksgiving at McDonald's" would be the worst inconvenience you could suffer. When people across the country are truly suffering, every day of the year?
Happy Thanksgiving, you arrogant, self-absorbed POS. Don't choke on a wishbone or anything.
The Slav
BERNANKE TESTIMONY JUNE, 2009:
http://www.federalreserve.gov/newsevents/testimony/bernanke20090603a.htm
Instead of addressing the twin towers of fiscal irresponsibility that the Federal Reserve Chairman Bernanke outlined in his testimony to Congress in June 2009 -- the annual budget deficit and the total national debt load -- Congress and the administration did what it does best, NOTHING.
To paraphrase von Mises, they took the cowards way out.
Nearly a century ago, the great economist Ludwig von Mises observed that massive central bank easing is invariably a form of cowardice that attempts to avoid the need to restructure debt or correct fiscal deficits, avoiding wiser but more difficult choices by instead destroying the value of the currency.
Like rats deserting the Titanic, they ignored saving the least fortunate among us, instead filling the lifeboats with those in America who were the most blessed.
COWARDS, LIARS, THIEVES!!! THE WHOLE BUNCH OF YOU.
They were however getting richer while most Americans were getting poorer. Incomes increasing, wealth exploding higher. Is that the reality for most households across the country since 2008?
It is in D.C.
Just like Buffet, these guys benefited and prospered while the rest of the country suffered.
FROM THE ECONOMIC COLLAPSE BLOG:
http://theeconomiccollapseblog.com/archives/12-facts-that-will-blow-your-mind-federal-employees-and-members-of-congress-are-getting-rich-while-those-of-us-who-pay-their-salaries-suffer
Median household income in the United States fell from $51,726 in 2008 to $50,221 in 2009, and yet the personal wealth of members of Congress and the salaries of federal workers (especially at the higher levels) continue to explode. A lot of corrupt politicians and federal fat cats are raking in stunning amounts of cash, and we are the ones paying the bill. There is certainly nothing wrong with making a lot of money, but does it seem right that so many of our "public servants" are getting filthy rich while so many of the rest of us are barely getting by?
#1 According to an article in the Hill, House Speaker Nancy Pelosi's net worth soared from $13.7 million in 2008 to $21.7 million in 2009.
#2 In 2005, 7420 federal workers were making $150,000 or more per year. In 2010, a whopping 82,034 federal workers are making $150,000 or more per year. That is more than a tenfold increase in just five years.
#3 More than half of the members of the U.S. Congress are millionaires.
#4 The total compensation that the U.S. government workforce is going to take in this year is approximately 447 billion dollars.
#5 Today, all members of Congress earn at least $175,000. This is far, far more than the average American makes.
#6 60 percent of the federal government workforce is represented by labor unions.
#7 The median wealth of a U.S. Senator in 2009 was 2.38 million dollars.
#8 In 2005, the U.S. Department of Defense had just nine civilians earning $170,000 or more. When Barack Obama took office, the U.S. Department of Defense had 214 civilians earning $170,000 or more. In June 2010, the U.S. Department of Defense had 994 civilians earning $170,000 or more.
#9 Insider trading is perfectly legal for members of the U.S. Congress - and they refuse to pass a law that would change that.
#10 According to a recent study conducted by the Heritage Foundation, federal workers earn 30 to 40 percent more money on average than their counterparts in the private sector.
#11 When you factor in such things as retirement and health care benefits, the compensation gap between federal workers and private sector employees gets even larger. Just consider the following quote from the Heritage Foundation study mentioned above....
"Including non-cash benefits adds to this disparity. The average private-sector employer pays $9,882 per employee in annual benefits, while the federal government pays an average of $32,115 per employee."
#12 The personal wealth of members of the U.S. Congress collectively increased by more than 16 percent from 2008 to 2009.
And so while Mr. Buffett exhales in relief and pays homage to the gods he worships that he doesn't have to lower himself to dine at a McDonald's on Thanksgiving, let's take a look at how the "other half" lives in Amerika today on the week before Thanksgiving.
FROM THE ST. PETE TIMES:
Gulfport man tries to kill himself as bank forecloses on his home
http://www.tampabay.com/news/humaninterest/article1134965.ece
The bank sent someone to drill through the lock. It was 9:02 a.m. when the drilling stopped. The busted lock hit the floor inside.
That's when they heard the gunshot.
The man not only tried to kill himself, he succeeded. But to listen to ass-wipes like Warren Buffett, perhaps we should be thankful that the criminal banskters, the stocks of many of whom Buffett owns in his Berkshire Hathaway portfolio, are made whole and protected.
God Bless America this Thanksgiving.
But just in case, be prepared for "TORCH AND PITCHFORK 2.0". In this case I trust, the sequel will be so much better than the original.
HAPPY THANKSGIVING MR. BUFFETT. YOU ARROGANT, SELF-ABSORBED PIECE OF SHIT!!
-------
FROM THE DAILY BELL:
http://www.thedailybell.com/1535/What-Kind-of-Freedom.html
Start with Buffet. Here is a man who constantly campaigns for increased taxes to be placed on US citizens, identifies himself as a Democrat and is worth something like US$50 billion. He poses as an investor, but really he makes "investments" in businesses that have hidden economic advantages, usually via regulatory loopholes. Of course Buffet may seem free-market oriented in the sense that he has made a fabulous fortune in the "investment game" – but when one examines his criteria for picking companies, it becomes obvious that one of them is mercantilism.
This means that Buffet values companies that in some way have developed access to the US government at state or federal levels and can pull levers of power available to no one else. Buffet is thus not investing in companies that necessarily have a better widget. He is putting his money into companies that are interacting most efficiently with government. He is not in his investing making a principled stand for entrepreneurialism or free markets but seeks out firms that have best exploited the current socialist and leveling environment of the US. It is difficult to reconcile this investment philosophy with freedom.
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