Always listen to Buffett??

[trannybanger]

When a sage speaks, its time to listen

http://edition.cnn.com/2008/POLITICS/09/28/bailout.deal/index.html

[endowed]

When a sage speaks, its time to listen

http://edition.cnn.com/2008/POLITICS/09/28/bailout.deal/index.html
Buffet just put 10% of his wealth, $5billion, into Goldman-Sachs. If Goldman-Sachs dies, so does his investment. Buffet needs the taxpayers to ensure Goldman-Sachs survives so that Buffet can reap a profit.

[chefmike]

Buffet's an obnoxious idiot, like his fans...

[DManDingo21]

Hey chefmike,

You are aware that we are talking about Warren Buffett and not Jimmy Buffett, right?

[elvis_p]

When a sage speaks, its time to listen

http://edition.cnn.com/2008/POLITICS/09/28/bailout.deal/index.html

No. Fixing bad government with more government is not the answer. The government bears a huge responsibility for the current crisis. Transferring enormous wealth from US taxpayers to those who knowingly engaged in excessively risky lending only creates an environment where this mess can happen all over again.

Buffet secured his investment, then advocated for a massive government bailout that will help save the company he just invested in.

That is the action of someone looking to make a buck, not a "sage" giving reasonable advice.

[NYBURBS]

When a sage speaks, its time to listen

http://edition.cnn.com/2008/POLITICS/09/28/bailout.deal/index.html

No. Fixing bad government with more government is not the answer. The government bears a huge responsibility for the current crisis. Transferring enormous wealth from US taxpayers to those who knowingly engaged in excessively risky lending only creates an environment where this mess can happen all over again.

Buffet secured his investment, then advocated for a massive government bailout that will help save up the company he just invested in.

That is the action of someone looking to make a buck, not a "sage" giving reasonable advice.

Amen :wink:

[tgirlzoe]

Yup, always listen to Buffett:

Wasted away again in Margaritaville
Searchin' for my lost shaker of salt.
Some people claim that there's a woman to blame,
But I know, it's my own damn fault.

[doctranny07]

This crisis goes all the way back to the Clinton years. When new laws were passed to lighten up credit. When this happenened everyone thought they could buy a house that was way out of there league. Now the people are paying the price. I saw one lady on TV who siad she made $37year. She was able to get a mortgage for a $700K house. Common, she knew that she could not afford it. The principal alone comes out to be about $2K a month. Less than she brings home.

[lahabra1976]

That all very well could be true, but people are quick to forget about 2 years ago when everyone in this country was talking about buying a house at any price, it didn't matter cause you could make money. I remember going to a lunch meeting 2 years ago and all the casual talk was about real estate and some lady saying "buy high, sell high" (when people believe in things like that its time to run for the hills...LOL). And many them knew the risk associated with these loans, but they said it didn't matter cause if you couldn't pay, you can sell your house at a high value. The government and these bills aren't the ones that made people have these unusually high expectations and "radiculous" thinking.

As far as Warren Buffet, obviously he is a swefty guy that doesn't give into fear and point fingers like so many others do. But also understand he invested in "redemmable preferred stock" not common stock, that has a 10% coupon. So if Goldman Sach doesn't do as well as he expected, he still gets 10% interest. So in my opinion he invested in the stock "half heartly."

[lahabra1976]

Just got news that Buffet is investing 3 billion in General Electric

http://biz.yahoo.com/ap/081001/ge_buffett_investment.html

[SarahG]

This crisis goes all the way back to the Clinton years. When new laws were passed to lighten up credit. When this happenened everyone thought they could buy a house that was way out of there league. Now the people are paying the price. I saw one lady on TV who siad she made $37year. She was able to get a mortgage for a $700K house. Common, she knew that she could not afford it. The principal alone comes out to be about $2K a month. Less than she brings home.

Yes, when in doubt, blame clinton! :roll:

How about greenspan telling people its impossible for there to be a housing bouble?

How about him telling people that if a bouble existed, it couldn't burst?

How about him telling people that everyone should get adjustable rate mortgages?

How about all these predatory lenders that were ONLY giving minorities adjustable rate mortgages.... when they qualified for normal low interest fixed rate mortgages?

[lahabra1976]

The truth is I think if you want to blame someone, you have to make a list a thousand pages long, the democrats, republicans, clinton, bush, even ourselves. Finger pointing gets us no where cause a problem this big can't really be blamed on just on one person, better yet one group of people.