Buffet says the anti bailout crowd are retards

Quote from nyxtrader:

Two the second post on this thread. He hit this right on the head, we aren't addressing the real issue. The government is trying to fix this mess only addressing the surface of the problem BECAUSE they don't have a fucking clue on how to fix the root of the problem.

Secondly, after this bailout banks and lenders are NOT going to go on a lending spree again. They just got STUNG and it hurt. Its exactly like a new trader who has a winning streak for a small amount of time and then take his/her first BIG hit. They aren't going to jump right back in and go full force. There are exceptions to the rule but for the most of us, no. Some even choose to sit on the sidelines.

Don't you think banks/lenders will lend with more caution now regardless of this fucking bailout? They don't want to get in this situation again, that is for damn sure.
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Buffett is right of course - but he was also right when he warned of derivative Armageddon and Wall Street didn't care because the money was too good.

And he should know - because he stepped in to help during LongTerm Capital Mgmt's meltdown.

You'd think the gov't would have learned a bit from that 1st example of overleveraged bailout. But then, the money was too good.
 
have you read jim cramers blog at cnbc ?

He says bailout is good for economy and American homes.

http://www.cnbc.com/id/26857498

Opinions abound when it comes to Treasury Secretary Henry Paulson’s proposed $700 billion bailout plan for U.S. banks. And a lot of them are negative. But Cramer’s a strong supporter, and he used part of Tuesday’s Mad Money to clarify what he sees as people’s misconceptions about the plan.

It doesn’t address the real problems of people losing their homes.

Wrong. Declining home prices are the reason owners are either walking away or being forced out. Paulson’s plan puts a stop to the root cause of this: foreclosures. Other housing-related problems, from making mortgage money available to shrinking inventories, are being solved. This plan takes care of the last one.
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The 700 is just for helping some companies to survive, not stopping of the falling house prices. Mr. Buffet has a self-interest. This solution is yet not a sure thing, not all Congress members are convinced that it's going to work. And Mr. Buffet said something like that is certainly an insult to some legislators as well as American people who voted for them.
 
Quote from WaveStrider:

Buffett is right of course - but he was also right when he warned of derivative Armageddon and Wall Street didn't care because the money was too good.

And he should know - because he stepped in to help during LongTerm Capital Mgmt's meltdown.

You'd think the gov't would have learned a bit from that 1st example of overleveraged bailout. But then, the money was too good.
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Buffet, Icahn and other whales make plenty of mistakes. We all think we're right when we put a trade on or we would not have put the trade on.

Buffet is chasing soverign money just like he did with PetroChina. He made good money on that one.

There is a philosophy at the top of the food chain - the way to make money is to have people do things for you. Buffet is getting every American taxpayer to work for him on this one.
 
Quote from mgookin:

None of these "experts" are disclosing their interest in the matter. If Warren Buffet was objective and honest, he would say "I just invested $5B in GS and I think the bailout is a good thing" just the same goes for Bill Gross of PIMCO who should say "I have been buying with both fists at $0.20 and I think the government should buy all this toxic paper from me for $0.65"

Never believe what you see in the media. The truth never comes out.
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I have found that the truth normally lies at 180º to the original statement ... the rest is just subterfuge.

regards
f9
 
Gross & Buffett are financial predators. Of course they are talking their books. It would be naive to mistake their utterances to be anything other than protecting their self interests. Whether it is good or bad for America is irrelevant. These men smell blood and they know how to manipulate the media to help them score yet another home run.
 
I didn't get it. Where is the logic in Earth, unless we're living in Paradise, telling that we can artificially avoid recession.
 
If only the taxpayer would get similar terms as the Buffett the businessman.

$5bn @ 10% preferreds

$700bn @ uh, what's the donation rate these days??
 
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