Bailouts: Warren Buffett: Billionaire Hypocrite

[clb09]

http://online.wsj.com/article/SB100...6252252365076.html?mod=WSJ_hpp_LEFTTopStories

Among the considerations still in the balance: A big provision being sought by Warren Buffett in recent weeks. A key Senate committee had changed its proposed overhaul of derivatives regulation after lobbying by Mr. Buffett's Berkshire Hathaway Inc., potentially helping the famed investor avoid a financial hit, congressional aides say.

The provision, sought by Berkshire and pushed by Nebraska Sen. Ben Nelson in the Senate Agriculture Committee, would largely exempt existing derivatives contracts from the proposed rules. Previously, the legislation could have allowed regulators to require that companies such as Nebraska-based Berkshire put aside large sums to cover potential losses. The change thus would aid Berkshire, which has a $63 billion derivatives portfolio, according to Barclays Capital.

Mr. Buffett's push is especially notable because he has warned of the potential dangers of derivatives, famously branding them "financial weapons of mass destruction."

 

[HOLLYWOOD]

Warren Buffet... "The Single Wealthiest Insider Trader" in American History.

Money does have it's power & privileges above all laws. It's all a Fascist State between the Corporatists like Buffet and their Prostitutes in Federal and State governments.

 

[FauxCapitalist]

Warren Buffett's inconsistencies

On saying not to buy banks, on not making acquisitions with undervalued company stock, and on derivatives.
http://fauxcapitalist.com/2010/03/02/warren-buffetts-inconsistencies/

 

[Brian Defferding]

I don't think regulation of derivatives is going to resolve the problem anyway.

 

[clb09]

I don't think regulation of derivatives is going to resolve the problem anyway.

When your Congress promises to "solve" the problem what they really are doing is making new rules that will allow the banksters to more easily steal the money you and other Americans earned via hard work and meticulous saving.

 

[Deborah K]

He voted for Obama. What do you expect?