Geico is owned by America’s #1 hypocrite, Warren Buffet.
Yeah.....they guy who whines that his secretary pays a higher percentage of income taxes than he does.....but who owes over one BILLION in back taxes.
“Geico is owned by America’s #1 hypocrite, Warren Buffet.”
Actually, in my book he’s an unprosecuted criminal, though he’s getting competition from Jon Corzine.
The mortgage mess doesn’t happen if Moody’s rates MBC’s in an honest manner. Bonds backed by $750K loans to illegal immigrant strawberry farmers and hotel maids should have received the CCC rating they deserved. Someone still would have bought them, and there’s no way AIG would have insured them.
Warren’s Moody’s firm? He owned 20 percent at the time. They rated those bonds AAA - same as US treasuries, at least back then. AIG sold insurance on those bonds at the AAA rate, not the CCC rate.
What a scheme: “Hey Barney, take that out of your mouth for a second and listen. You can make loans to illegal aliens if you allow the banks to make bonds out of those and sell them so that they can dump it from their books. We’ll make the Dems a permanent majority by turning illegals into US homeowners. I’ll rate the bonds AAA and they can get good rates for swaps and we’ll create a virtuous cycle of Democrat prosperity the world has never before seen . . . “
I’m no conspiracy theorist, but S&P, Fitch, and Moody’s ALL rate those shitty bonds AAA, the statistics on that possibility are awful low.