Americans should never forget that Warren Buffett’s investment company Berkshire Hathaway, the single-largest shareholder in Moody’s, played a key role in enabling the financial meltdown and America’s great recession.
It was Moody’s, Standard & Poor’s, and Fitch that bestowed triple-A ratings assuring investors the noxious investments devised by Lehman Brothers, Goldman Sachs, and the rest of the investment banks were as safe as US Treasury bonds.
The wholesale financial meltdown could not have happened without the assistance of these ratings agencies. Had the ratings agencies done their homework, the collapse and the resulting recession would not have occurred.
No matter how much money Buffett gives to his pet philanthropy projects, it will never equal the amount he owes American taxpayers.
By Thurston Howell
Barack Obama announced on Wednesday that he will honor billionaire investor Warren Buffett with the Presidential Medal of Freedom, which is the country’s highest civilian honor. It is given to people who have made “especially meritorious contributions to the security or national interests of the United States, to world peace, or to cultural or other significant public or private endeavors,” according to the White House.
Ok, I would like to know what Obama is talking about here because it seems as though Mr. Buffet owes –us- not the other way around. He made a substantial investment in Goldman Sachs and a few weeks later, the tax payers bailed them out with TARP money. Goldman changed itself into a bank just so they could screw us, I mean “qualify”. But unlike say, GM bond holders, Berkshire and Mr. Buffet’s share didn’t get wiped out.
Warren Buffett is a longtime supporter of Obama’s. In fact, Buffett just recently wrote an op-ed in the New York Times – thanking the government for intervening in the financial crisis.
This should be embarrassing to Buffett and he should DECLINE the dubious bribe, I mean award. It reminds me of a couple years ago when Dan Rooney debased himself and the entire Pittsburgh Steelers organization in front of the largest audience in the world when they were awarded the Lombardi trophy at Super Bowl XLIII.
The guy holds up the trophy and the first words to proceed from his apparently senile mouth are “I would like to THANK Barack Obama for making this possible”!!! This was so completely idiotic and insulting to the team and fans that it seemed as though it might have been straight jacket night at Raymond James Stadium. Well it all made sense a month or so later when Obama appointed Rooney “Ambassador to Ireland”. (No quid pro quo there I’m sure.)
These people have all the money and adulation they need so their final longings are to window dress their legacies with some historical distinction, proving that even billionaires need knee pads once in a while.
It must be humiliating to prostrate oneself to this young prima donna of a president. Notice how the left winged Marxists hate all of the rich except for the elite-Marxist billionaires who labor to subvert the great pillars of human happiness erected by God and codified into nationhood through the broken but willing vessels of our founding fathers.