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Posted on 01/31/2012 10:57:31 AM PST by RinaseaofDs
Gasparino actually said in plain English:
1. The 2008 Real Estate Bubble was caused in large part by the three ratings agencies 2. That Warren Buffet had ownership of Moody's and made millions at the time. 3. That the Lubrizol purchase was a continuation of a trend that Buffet has shown toward these sorts of ethical lapses in very large, economy moving transactions.
So far, this is the very first time that anyone in the MSM has uttered such things, and the last place I thought I'd see it was on a Fox channel. Kudos to Gasparino for actually reporting the facts.
At one point, Gasparino actually addressed the 'how did it happen?' question, and then called out the rating agencies, and how the market moved on securities based, as it always had, on the ratings.
Could Buffet come under investigation (finally)?
BTTT
Kudos to Gasparino. There’s more that Buffet should have to answer for regarding his pronouncements versus his behavior. Such as his advocacy for high estate taxes while pledging to avoid them entirely by gifting his money to the Gates Foundation Trust - where Bill Gates has also removed his future estate from tax liabilities he too advocates.
Fox Business Network is where it’s at. Lou Dobbs at 7:00pm eastern has been all over Fast & Furious - every night.
BTTT
Giving it away isn't the only sign of his hypocrisy. He also owns life insurance companies who sell their products as a means to avoid the estate tax. How much less would his insurance companies be worth if there was no estate tax and how much more would they be worth if the estate tax was much higher?
and buffet wants the inheritance tax because he sells death tax insurance.
no death tax then no use for his “product”
just like killing the pipeline protects his railroad.
Warren Buffett’s “country cousin” routine has worn thin.
No doubt about it. This is the ONLY station with any type of credibility.
Correct. And don’t forget that he promised that none of his children would inherit his massive wealth. So Warren funded his three childrens’ charities to the tune of $1 billion each. Administering those funds, one expects management fees will have to be accounted for.
Warren Buffet was Arne the “Girly Man’s” economic advisor in California when he was the governator.
He advised Arne to Scr*w the people and turn hard left.
Arne listened to Warren, and look what it got him.
For later.
You got that right. Even when they are talking about something uninteresting, it is still worth viewing.
I’m sure that after they’re done with John Corzine, Buffett will be next on the docket.
Riiiiight.....
Our interests are being protected by a bunch of idiots.
Huuuuu Buffet another wealthy Obama supporter like Soros !
Isn’t it ?
“My problem is that during the crisis both Paulson and Geithner were soliciting advice from Buffet directly. Unless he stopped making ANY trades or acquisitions during that time how could the specter of insider trading NOT come up?”
Such as the $5 billion loan to Goldman Sachs during the crisis that he made $3.7 million on in 3 years? Nice return.
Also, certainly no conflict of interest for a major stakeholder in Wells Fargo (Buffet) being an insider with the Secretary of the Treasury during a banking crisis. However, if an employee of a publicly traded company and tells his neighbor orders are down and the neighbor sells the stock based on that information, the employee can be found guilty of insider trading and sent to prison.
And we thought we eliminated royalty in 1776.
I agree. Ever since Fox Business became an option for me, I barely watch FNC anymore. FNC has become practically unwatchable.
Could Buffet come under investigation (finally)?
Buffett’s Berkshire Hathaway is a shareholder in Moody’s, it does not have management responsibilities. If anyone is in trouble at Moody’s it would be the analysts and senior management if they knew ratings were being played with.
His holier than thou act is wearing thin but legal action is not in the cards.
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