proactivetrader

Buffett's Betrayal

Let's face it Warren is the best of the lot. This excellent article will do him no harm. It is easier for a camel to get through the eye of the needle than for a rich man to get into heaven. I have very low expectations for these people, even good ole Warren. But he is head and shoulders above them all. There isn't a place low enough in hell or hot enough for the toxic greed at Goldman and the bubbles they have created deliberately bringing us to the brink of the second great depression. This article makes the point that Goldman would not have survived with out the FDIC and gov't backing. While we needed to save Goldman short term there is no reason whatsoever for its existence going forward. The culture at Goldman is toxic greed willing to destroy the US and the world to make a buck. Whereas regular greed is just interested in getting rich. The gov't needs to take a flamethrower to Goldman. It does not deserve to exist in any human society. Warren saved Salomon Bros. to save his investment and did exactly what this article describes, he went to Washington. He saved his investment not because he is a good investor but he was very good at lobbying Washington. Likewise he is now involved in Goldman. When he gets his money out of Goldman he will stop trying to save it. Goldman didn't need Warren's money but they did need his name and they knew from Salomon what Warren would do for them if they had Warren's money. So Warren has clay feet, what else is new? We need articles like this so that we always remember what we are dealing with and let us not be unrealistic about our heroes.