Buffett Recruited as Schwarzenegger's Economic Adviser

Bloomberg no url | 8/13/3

[NativeNewYorker]

Aug. 13 (Bloomberg) --Arnold Schwarzenegger, the actor who is running for governor of California, said billionaire investor Warren Buffett will be the financial and economic adviser to his political campaign, the campaign said in a statement.

Buffett, the world's second-richest man, has built a fortune buy buying companies through his company, Berkshire Hathaway Inc. Debbie Bosanek, Buffett's assistant, didn't immediately return a phone call seeking comment.

[Dane]

Bustamante, because after Cruzzie sells Kalifornia to Mexico, the US will be rid of Feinswine and Boxer from the US Senate!

Do not know if you are being tongue in cheek or not, but the question of "Who would you rather want as Governor of California, Bustamante or Arnold" was asked towards, Brian S.

JMO, but I do not expect an answer from Brian. He, it seems, is content sniping from the sidelines.

[HamiltonJay]

Warren Buffet is one of the most fiscal conservative businessmen on the PLANET! He may be socially liberal, but hes a fiscal conservative through and through... look at how he makes his money...

He buys undervalued companies, with equity in them, fixes them up and sells them... it is the most conservative and business model out there! And when the deals dry up, he stops buying!

You may not like his politics, but fiscally you can't get more conservative in practice than this guy. He never takes a major risk... just buys instant equity and improves the product for the end consumer.

[William McKinley]

Just when I was thinking...maybe I could get behind Arnold. I love his movies, and one never knows what can happen once someone gets in office.

But Buffett's economics and social policies are such an affront to me that there is no way I could get on board now.

Good luck California, you guys are probably going to have yet another lose-lose scenerio come election time.

[B Knotts]

So, his opposition to tax cuts makes him even more of a "fiscal conservative?"

[Austin Willard Wright]

Why is Arnold your choice if he can do something (and probably will) that Davis cannot do: raise taxes?

[Austin Willard Wright]

Why is Arnold your choice if he can do something (and probably will) that Davis cannot do: raise taxes?

[Diddle E. Squat]

I hope that you aren't assuming that Arnold is my first choice(if I had a vote, which this Texan does not). However, objectively analysis suggests that this is a wise move(albeit a small gamble) to create an image of a serious political heavyweight candidate, and draw off from the Dem vote while pumping up the young/disgruntled/stayaway voter turnout. It is a move designed to win THIS election, not the next one.

[Pubbie]

"Do not know if you are being tongue in cheek or not, but the question of"

I was just being a smart ass! lol

[Petronski]

I guess George Soros and Ted Turner are too busy.

[myrabach]

and here I was thinking parrots...

[Protagoras]

Who would you rather have as Governor of California, Bustamante or Arnold(the two leading candidates in the Oct. 7th election).

No meaningful difference. Two liberals.

[Carry_Okie]

The most disturbing thing about this is that Ahnold needs an advisor with name recognition to give him credibility.

His choice of Buffet speaks volumes about his political inexperience as well as his lack of fiscal acumen.

[Austin Willard Wright]

Business and politics are different. There are many good "conservative" businesspeople on the bottom line lin busines who are statists through in through when they turn to politics. Buffett has not hid his views in this regard, He has gone on record time and and again for big spending and high taxes. Read his books!

[snopercod]

FYI

[Brian S]

Why is Arnold your choice if he can do something (and probably will) that Davis cannot do: raise taxes?

Because the images of Uncle Teddy wallowing through the halls of the governor's mansion just to precious to pass up...

[austinTparty]

You confuse personal investments with politics. There are a lot of rich Democrats. They also made money through capitalism (or extortion). But when they're playing with OTHER people's money, it's a whole other ball game.

[Dane]

If they are the only two choices, Arnold of course, but right now they are not the only two.

McClintock would be my preference if I lived in CA. If it got within two weeks of the election and McClintock hadn't a chance, I would support Arnold vigorously in the final days pre-election

Well basically it does come down to two choices, like all other American elections.

That is how the system is set up. The Founding Fathers did not set up a parliamentary system. They set up a winner take all system, where the strongest political entity wins.

And in political war the winner is the strongest of the two most powerful entities, and in the case of the California recall, the two strongest entities are Arnold and Bustamnte.

[Austin Willard Wright]

Risk? I think it is a sure bet: Arnold will raise taxes. It is *not* a sure bet if Arnold loses, however. Would you like to take my bet?

[Miss Marple]

You have described someone who is good at investing. You have NOT described one who is a "fiscal conservative" as far as government goes.

He opposed the tax cuts. He opposed the dividend tax cut. He opposes the repeal of the inheritance tax.

I can understand the comments that some have made here that he knows about the bond market and the electricity mess, but he is not a fiscal conservative.

If there is to be a large number of financial types who will advise on how to keep California's bond ratings from tanking, and who can figure out a way to straighten out the energy fiasco, I could understand Buffet being at the head of a committee for that purpose.

But Buffett is a democrat, and I do not trust him.

[Protagoras]

If they are the only two choices,

There seems to be over a 100 choices. Not to mention not voting for any of them. It's not a good idea to vote for something you don't want. It makes them think you do want it.