Crony Capitalism, Obama's Backer Warren Buffett

[Dammy]

http://biggovernment.com/whall/2011...ut-rules-then-made-massive-profits-from-them/

According to Schweizer, after the bailout bill’s passage, Warren Buffett sat down and wrote then-Treasury Secretary Henry Paulson a four-page private letter laying out a plan to clean up the toxic assets plaguing numerous financial institutions. Buffett proposed something he called a “public-private partnership fund.” For every $10 billion the private sector invested, Buffett said the government should put up $40 billion.
After Paulson’s exit, incoming Treasury Secretary Tim Geithner tweaked the plan and rolled it out in March 2009. But according to quarterly reports from Buffett’s holdings company, Berkshire Hathaway, between the time the billionaire crafted his plan and Geithner adopted it, Buffett quietly purchased 12.4 million shares of Wells Fargo stock and 1.5 million shares of U.S. Bancorp. Once the government unveiled its “Public-Private Investment Program,” bank stocks jumped, resulting in large profits for Buffett.

 

[Dammy]

Shouldn't ONOWS be rioting over this? Oh wait, Obama is a democrat, never mind.

 

[redrumloa]

Warren Buffet gets portrayed in the media as a kindly old grandpa who is a savior of the common man (and just happens to be one of the richest men in the world). In reality he is the worst kind of robber baron.

 

[FluffyMcDeath]

Shouldn't ONOWS be rioting over this? Oh wait, Obama is a democrat, never mind.

OWS is not particularity fond of Obama or the Democrats. ... which reminds me of this guy.

 

[Dammy]

Warren Buffet gets portrayed in the media as a kindly old grandpa who is a savior of the common man (and just happens to be one of the richest men in the world). In reality he is the worst kind of robber baron.

He is one of the Global Elites that will take full advantage of this financial implosion that'll start next year. The fox is not only in the hens house, he's the landlord.