First, Warren buys a chunk of Goldman "Evil Empire" Sachs
. The most hated company in the world.
Then he gets caught up in the David Sokol mess.
. The most hated company in the world.Then he gets caught up in the David Sokol mess.
Warren Buffet Brand Damaged?
- Thread starter Rockslinger
- Start date
*sigh* I blamed myself of not punting Goldman less than $100.
BTW, Warren did not buy a chunk of Goldman. He simply turned the table by becoming the loan shark who demanded double digit yield from the kings of the Banksters in exchange to Berkshire Hathaway "protection"/endorsement.
Don't be fool by Warren folksy/nice grandpa look. Hee, hee, hee.
Again not so sure what Warren did something illegal other than having mild "dementia", say not asking when David Sokol did the purchase.
At most Warren made a big mistake by not turning down the Lubrizol acquisition, aka calming down and doing further due diligence before pulling the trigger if necessary.
More likely the Audit report is played out like the "bad" cop, while Warren played the "good" cop in this "scandal".
Good luck the SEC could charge David Sokol for insider trading since David is not Lubrizol Insider and more importantly who knows whether those lawyers are the same one who were doing "Jack Layton" in their office when the credit crunch hit.
Simply put, what David did is unethical but not so clear cut whether it's illegal according to the law.
WRT damage, not so sure what Warren Buffet "Brand" are you talking about? Don't recall he has one other than something hyped up in overdrive by the talking heads at CNBC of the world. No?
BTW, I am counting BYD investment is going to bite/hurt Berkshire Hathaway and not going to be surprised the potential BYD investment disaster could be another high profile case study of how not to invest in China.
Posted in the Politics board
Warren Buffett is only human like the rest of us.
He may be ruthless in making deals outside his company but he put too much emphasis on trust within it. That is how he can make a calculated wager on Goldman and yet let Sokol slip through his fingers. Trust begets loyalty and betrayal in equal measure.
I recently read Too Big To Fail, while all the bankers looked rotten to the core Buffett looks like a paragon of virtue - albeit a ruthless one. During a conference call with Paulson and Geithner discussing how to keep AIG from insolvency Buffett told them that he had to cut the call short. He was taking his grandchildren to the local Dairy Queen; owned by Birkshire - Hathaway of course.
http://www.huffingtonpost.com/2011/05/01/warren-buffett-david-sokol-controversy_n_855900.html
Warren Buffett is only human like the rest of us.
He may be ruthless in making deals outside his company but he put too much emphasis on trust within it. That is how he can make a calculated wager on Goldman and yet let Sokol slip through his fingers. Trust begets loyalty and betrayal in equal measure.
I recently read Too Big To Fail, while all the bankers looked rotten to the core Buffett looks like a paragon of virtue - albeit a ruthless one. During a conference call with Paulson and Geithner discussing how to keep AIG from insolvency Buffett told them that he had to cut the call short. He was taking his grandchildren to the local Dairy Queen; owned by Birkshire - Hathaway of course.
http://www.huffingtonpost.com/2011/05/01/warren-buffett-david-sokol-controversy_n_855900.html
But the talking heads at CNBC of the world and the press in general worship him like a god.
Only fools would believe Warren makes no wrong.
Needless to say those same fools deserve to be poor or worse conned by the swindlers who are equal idiotic in terms of common sense, yet smart enough to know every tools and tricks to scam.
Maybe but he could very well be underestimated the degree the issue of trust degenerated for the past decades.
Or you could say he's naive to believe the idea of Trust remains intact.
Again mentioned here numerous times, all of the protagonists are guilty and deservedly so. Doesn't matter he or she is a Democrat, GOP, teabaggers, Union hacks or the "fat cats".
The whole "scheme" collapsed due to the unchecked greed and nobody learns a thing. Just take a look on the farce/finger pointing in the United States lately.
No surprise why Warren Buffet likes Aaron Sorkin, not because he is Jewish or Warren has a stake in NY Times. Hee, hee, hee.
B
burt-oh-my!
Sokol just acted dumb and had a "Martha Stewart" moment.
That being said, he is "guilty" according to the court of public opinion due to his wealth or worse his Jewish heritage. Who knows?
B
burt-oh-my!
I don't think he should feel required to give Mr. Buffet first shot at his good ideas. He doesn't owe BH anything.
Again, it won't "matter" much in the eyes of the average Joe and Jane who believe the rich are all guilty by default.
That's scary when considering the fact their nest eggs are exposed to the rise and fall of the stock market.
Aren't they?Again, it won't "matter" much in the eyes of the average Joe and Jane who believe the rich are all guilty by default.
