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Buffet Calls Crisis 'Economic Pearl Harbor', Backs Paulson

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posted on Sep, 24 2008 @ 02:17 PM
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Buffet Calls Crisis 'Economic Pearl Harbor', Backs Paulson


www.prisonplanet.com

Billionaire investor Warren Buffett, calling the market turmoil “an economic Pearl Harbor,” said Treasury Secretary Henry Paulson’s $700 billion proposal to prop up the U.S. financial system is “absolutely necessary.”

“The market could not have taken another week” like last week, Buffett told CNBC today, a day after saying his Berkshire Hathaway Inc. will buy a $5 billion stake in Goldman Sachs Group Inc. “I think it was the last thing Hank Paulson wanted to do, but there’s no Plan B for this.”

(visit the link for the full news article)




posted on Sep, 24 2008 @ 02:17 PM
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Riiiggghhhttt...

This wouldn't have anything to do with him investing $5-10 billion of his own capital into this, now would it?

The same guy who has no problem outsourcing jobs like hotcakes in his own corps is now suddenly "for the little guy"?

Listen to Warren Sheeples, your indefinite debt slavery is good for the country!


Although there is some truth to his statement, as this was either staged, or deliberately allowed to happen, just like Pearl Harbor. lol


“I am betting on the Congress doing the right thing for the American public and passing this bill,” Buffett said. The economy is “everybody’s problem,” he said, likening it to “a bathtub — you can’t have cold water in the front and hot water in the back.”




www.prisonplanet.com
(visit the link for the full news article)

[edit on 24-9-2008 by DimensionalDetective]



posted on Sep, 24 2008 @ 02:36 PM
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By Pearl Harbor, does this imply that the people running these companies are the enemy of the average American, since they created this situation.



posted on Sep, 24 2008 @ 02:44 PM
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I was wondering too, I guess the financial institutions are the Japanese this days.

I guess rather than the fed use the atomic bomb to solve the problem they are to blow them all with tax payer money.


I never thought that Buffect could make such a moron statement in his comparisons.

But then again he is after all old enough and perhaps getting senile.



posted on Sep, 24 2008 @ 02:50 PM
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It is a vile analogy. I bet that he was one of the Kamikaze pilots dive-bombing the economy with his disgusting greed and fraudulent practices. Yes, he enjoyed the hot water alright when the going is good, and is a bit squeamish to dip his rotten toes in the cold. I hope he drowns in his friggin bath.




posted on Sep, 25 2008 @ 10:32 AM
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LMAO! And as one could expect, HERE'S why Buffet is so behind this bailout package! All of us tax-serfs will be contributing to his making fist over dollars off of it! Big Surprise!



The Shameless Buffett Deal

Henry Paulson wants the taxpayers to pay some $700+ billion for trash paper currently held by his old company Goldman Sachs and others. The deal will likely bring a 50% or bigger loss for the taxpayers.

At the same time Warren Buffet buys a $5 billion stake of Goldman Sachs that practically guarantees him a return of some 17-20% per year plus possible upsides in the stock price. This because Goldman will likely be the one profiting the most from the big bailout.

[Buffett] made it very clear that he would not have bought anything right now if he wasn't confident Congress will do the "right thing" and approve the financial bailout proposal put forward by Treasury Secretary Henry Paulson.

As he himself admits, Buffett and the other Berkshire shareholders will make $500 to $1,000 million profit per year because the taxpayer will pay for the big losses Wall Street made.


Source:

www.moonofalabama.org...



posted on Sep, 25 2008 @ 11:07 AM
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Originally posted by Lebowski achiever
It is a vile analogy. I bet that he was one of the Kamikaze pilots dive-bombing the economy with his disgusting greed and fraudulent practices. Yes, he enjoyed the hot water alright when the going is good, and is a bit squeamish to dip his rotten toes in the cold. I hope he drowns in his friggin bath.



Buffet runs his business mostly on cash, since he mostly owns consumer staples...
Buffet also bought GS stock 10% under market, and with a massive yield, and if GS backs out of the deal they have to buy it 10% above the market price...so, Buffet is going to make out pretty well.



posted on Sep, 25 2008 @ 11:09 AM
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Is this the same guy everyone was praising cause he said the rich don't pay enough taxes?

Why pay more taxes when all the government is going to do is give it back to you via bailouts?



posted on Sep, 25 2008 @ 11:12 AM
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George Socos is against most of this fast pressure federal bailout.
Check out any news search engine to read his remarks.

What I don't like is knowing how fast a few Billionaries can see how quickly they can make more off the common man when hedging their personal bets.

Its all gypsy trading to me!


[edit on 25-9-2008 by Skydancer]



posted on Sep, 25 2008 @ 11:20 AM
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Buffett didnt invest for anyone else but the shareholders of Berkshire Hathaway.

He bought 10% of the world's most stable and prestigious investment bank for only $5bn! Definite bargain he's got himself there.



posted on Sep, 25 2008 @ 11:25 AM
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I'm not berating Warren in any fashion, my remark is based upon how fast he can see a method while building more capital. How I wish I could think as fast as him.

What gets me is reading this link that had to take more than 2 years to compile
solari.com...

It tells me this housing bill bailout wasn't developed overnight.

[edit on 25-9-2008 by Skydancer]



posted on Sep, 25 2008 @ 11:57 AM
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Here's another view point

www.nytimes.com...




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