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	<title>Comments on: Buffett: The economy needs Viagra</title>
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	<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/</link>
	<description>Money Magazine looks at a wide range of personal finance issues and asks for your feedback.</description>
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		<title>By: Tom, Cleveland, Ohio</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18289</link>
		<dc:creator>Tom, Cleveland, Ohio</dc:creator>
		<pubDate>Sun, 12 Jul 2009 12:05:32 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18289</guid>
		<description>Ronald Reagan was a bought and sold shill of the medical industry and then the wealthy conservative idealogues.  His &quot;government is the problem&quot; mantra has proven to be true only when he and his kind (See Bush/Cheney) are in charge.  Every minimally intelligent person on the globe realizes and admits that without government intervention, the mess caused by the conservatives who were in charge for the past 8 years would have brought down our economy and deeply damaged the global one.

Rant on all you Rove-led lemmings.  You were manipulated in 2000, and 2004 - and you brought this mess on the rest of us.  Accept that responsibility like a man, rather than a weak-kneed sissy/victim.</description>
		<content:encoded><![CDATA[<p>Ronald Reagan was a bought and sold shill of the medical industry and then the wealthy conservative idealogues.  His &#034;government is the problem&#034; mantra has proven to be true only when he and his kind (See Bush/Cheney) are in charge.  Every minimally intelligent person on the globe realizes and admits that without government intervention, the mess caused by the conservatives who were in charge for the past 8 years would have brought down our economy and deeply damaged the global one.</p>
<p>Rant on all you Rove-led lemmings.  You were manipulated in 2000, and 2004 &#8211; and you brought this mess on the rest of us.  Accept that responsibility like a man, rather than a weak-kneed sissy/victim.</p>
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		<title>By: Josh, Huntsville, AL</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18269</link>
		<dc:creator>Josh, Huntsville, AL</dc:creator>
		<pubDate>Fri, 10 Jul 2009 20:30:38 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18269</guid>
		<description>OS,

In which country do you reside?

Massive government spending did more harm than good during the Roosevelt administration; the same is true of the Obama administration.

Profit seekers and risk takers are the actual drivers of our economy, not the government.

Government got us into this.  Government is not the solution.  It is the problem.</description>
		<content:encoded><![CDATA[<p>OS,</p>
<p>In which country do you reside?</p>
<p>Massive government spending did more harm than good during the Roosevelt administration; the same is true of the Obama administration.</p>
<p>Profit seekers and risk takers are the actual drivers of our economy, not the government.</p>
<p>Government got us into this.  Government is not the solution.  It is the problem.</p>
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		<title>By: OS, detroit, MI</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18240</link>
		<dc:creator>OS, detroit, MI</dc:creator>
		<pubDate>Fri, 10 Jul 2009 15:04:04 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18240</guid>
		<description>Government spending in a near depression is NOT socialism. It&#039;s called saving the economy.

Let me simplify it. Money changing hands for goods/services is the economy. If money doesn&#039;t change hands, we have no economy. Its called the velocity of money.

With their balance sheets dropping like a rock because of the real estate bubble, banks got scared and sat on their money. In turn, investors got scared (they cashed out to sit on their money), scaring companies and corporations, causing them to sit on their money. Then the consumer-at-large started sitting on their money because of all the bad news. The worse the news, the bigger the pullback by spenders of all types. The only other big spenders are the government and the purchases of food and other daily essentials. Thus, they are the only ones who can keep the money flowing and the economy from shutting down.

Therefore, the government (which is not influenced by bad news) HAD to spend a lot of money to keep the collapse in money velocity from dipping down so low that spending by all parties completely stops (depression).

As news improves, hopefully the psychological winds change so that consumers begin to spend again on items other than food and gas to start the velocity of money again, but a little less frivolously this time.</description>
		<content:encoded><![CDATA[<p>Government spending in a near depression is NOT socialism. It&#039;s called saving the economy.</p>
<p>Let me simplify it. Money changing hands for goods/services is the economy. If money doesn&#039;t change hands, we have no economy. Its called the velocity of money.</p>
<p>With their balance sheets dropping like a rock because of the real estate bubble, banks got scared and sat on their money. In turn, investors got scared (they cashed out to sit on their money), scaring companies and corporations, causing them to sit on their money. Then the consumer-at-large started sitting on their money because of all the bad news. The worse the news, the bigger the pullback by spenders of all types. The only other big spenders are the government and the purchases of food and other daily essentials. Thus, they are the only ones who can keep the money flowing and the economy from shutting down.</p>
<p>Therefore, the government (which is not influenced by bad news) HAD to spend a lot of money to keep the collapse in money velocity from dipping down so low that spending by all parties completely stops (depression).</p>
<p>As news improves, hopefully the psychological winds change so that consumers begin to spend again on items other than food and gas to start the velocity of money again, but a little less frivolously this time.</p>
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		<title>By: Nashville, Dave</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18239</link>
		<dc:creator>Nashville, Dave</dc:creator>
		<pubDate>Fri, 10 Jul 2009 13:45:45 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18239</guid>
		<description>The number one problem is the TAXES both direct and all of the &#039;hidden&#039; TAXES make it not worth it anymore! 

I own  multiple small businesses and  have PLENTY of work enough to HIRE about 10 to 15 employees 

NO WAY! 

it&#039;s NOT WORTH IT anymore.....so I turn the work AWAY!

WHY should I take ALL of the RISK...put up with ALL of the headaches and problems then at the end of the year, the  Government: Federal, State and Local walks off with  more than HALF of what I make! 

I got fed up with this garbage a few years ago  Got out of total debt, paid off my home and now I am Semi retired!  

I work one or two days a week...if even that! 

I went from paying WELL over a hundred grand a year in Federal income  taxes to PEANUTS! 

I am ENJOYING my life at 54  NOW I am not  allowing myself to be made a fool of working myself to death  paying TAXES out the ying yang.....then at 65 ;  &#039;retire&#039; then after a few years take the eternal dirt  nap!  

NO..... I have had ENOUGH at 54 .... another PRODUCER  CALL&#039;S IT quits! 

Soon as I hit 62 I am off to the Social Security office to get my 15 % in Social security taxes  that I have paid on EVERY paycheck for YEARS! 

Then I want MY free power scooter  that I see advertised on TV  paid for by the &#039;Government&#039; AKA  sitting duck TAX PAYERS...you.  

I might become a  &#039;Pastor&#039; start a store front &#039;church&#039;  at the local strip mall,  and  get in on all of the TAX FREE  501C3 TAX EXEMPT goodies the Government gives to  
&#039;Pastors&#039; to keep &#039;their&#039;  flock UNDER CONTROL AND in line. Keep them pacified with plenty of Religious narcotics.</description>
		<content:encoded><![CDATA[<p>The number one problem is the TAXES both direct and all of the &#039;hidden&#039; TAXES make it not worth it anymore! </p>
<p>I own  multiple small businesses and  have PLENTY of work enough to HIRE about 10 to 15 employees </p>
<p>NO WAY! </p>
<p>it&#039;s NOT WORTH IT anymore&#8230;..so I turn the work AWAY!</p>
<p>WHY should I take ALL of the RISK&#8230;put up with ALL of the headaches and problems then at the end of the year, the  Government: Federal, State and Local walks off with  more than HALF of what I make! </p>
<p>I got fed up with this garbage a few years ago  Got out of total debt, paid off my home and now I am Semi retired!  </p>
<p>I work one or two days a week&#8230;if even that! </p>
<p>I went from paying WELL over a hundred grand a year in Federal income  taxes to PEANUTS! </p>
<p>I am ENJOYING my life at 54  NOW I am not  allowing myself to be made a fool of working myself to death  paying TAXES out the ying yang&#8230;..then at 65 ;  &#039;retire&#039; then after a few years take the eternal dirt  nap!  </p>
<p>NO&#8230;.. I have had ENOUGH at 54 &#8230;. another PRODUCER  CALL&#039;S IT quits! </p>
<p>Soon as I hit 62 I am off to the Social Security office to get my 15 % in Social security taxes  that I have paid on EVERY paycheck for YEARS! </p>
<p>Then I want MY free power scooter  that I see advertised on TV  paid for by the &#039;Government&#039; AKA  sitting duck TAX PAYERS&#8230;you.  </p>
<p>I might become a  &#039;Pastor&#039; start a store front &#039;church&#039;  at the local strip mall,  and  get in on all of the TAX FREE  501C3 TAX EXEMPT goodies the Government gives to<br />
&#039;Pastors&#039; to keep &#039;their&#039;  flock UNDER CONTROL AND in line. Keep them pacified with plenty of Religious narcotics.</p>
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		<title>By: August H. Ankum, Ph.D., Philadelphia, PA.</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18238</link>
		<dc:creator>August H. Ankum, Ph.D., Philadelphia, PA.</dc:creator>
		<pubDate>Fri, 10 Jul 2009 13:01:50 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18238</guid>
		<description>Buffett&#039;s comments are right in line w/ Nobel Laureate Paul Krugman&#039;s op-ed piece in the NYT today.</description>
		<content:encoded><![CDATA[<p>Buffett&#039;s comments are right in line w/ Nobel Laureate Paul Krugman&#039;s op-ed piece in the NYT today.</p>
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		<title>By: Robert Fort Pierce , Florida</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18237</link>
		<dc:creator>Robert Fort Pierce , Florida</dc:creator>
		<pubDate>Fri, 10 Jul 2009 12:57:27 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18237</guid>
		<description>President Obama and his adminstration did not create the ression we are in it was a gift he received from the Bush administration along with two wars . It&#039;s amazing that our troops have been in Iran for a number of years now and they still have not located those weapons of mass destruction . Clinton left the office with a budget surplus and in the span of eight years the Bush adminstration has left our nation in ruin.</description>
		<content:encoded><![CDATA[<p>President Obama and his adminstration did not create the ression we are in it was a gift he received from the Bush administration along with two wars . It&#039;s amazing that our troops have been in Iran for a number of years now and they still have not located those weapons of mass destruction . Clinton left the office with a budget surplus and in the span of eight years the Bush adminstration has left our nation in ruin.</p>
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		<title>By: Malten lassesson Oslo Oslo Norway</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18235</link>
		<dc:creator>Malten lassesson Oslo Oslo Norway</dc:creator>
		<pubDate>Fri, 10 Jul 2009 10:20:10 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18235</guid>
		<description>Does this mean Buffet use Viagra? Since he knows how it feels taking a half viagra and candy ;D</description>
		<content:encoded><![CDATA[<p>Does this mean Buffet use Viagra? Since he knows how it feels taking a half viagra and candy ;D</p>
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		<title>By: Bob Taylor, Ormond Beach, Fl.</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18233</link>
		<dc:creator>Bob Taylor, Ormond Beach, Fl.</dc:creator>
		<pubDate>Fri, 10 Jul 2009 08:24:08 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18233</guid>
		<description>Warren&#039;s Smorgasbord perhaps missing a few ingredients!</description>
		<content:encoded><![CDATA[<p>Warren&#039;s Smorgasbord perhaps missing a few ingredients!</p>
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		<title>By: Jason Paulden, Daytona Beach, Florida</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18232</link>
		<dc:creator>Jason Paulden, Daytona Beach, Florida</dc:creator>
		<pubDate>Fri, 10 Jul 2009 08:21:48 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18232</guid>
		<description>Yah, Geithner unintentionally made a joke…of! George Bush and his regime made us the laughing stock of the globe. When a ship is sinking and a new captain takes what’s supposedly called the helm; the outcome is dependent more on the crew than the captain. Surely that in itself describes Democracy, or our Representative Democracy. We will continue to be laughed at until we also put the deadwood crew of representatives who were loyal to the last captain where they belong; on the mop and bucket brigade down in the bilge. We can complain and sink; or look for solutions that may or may not keep us afloat. The Chinese got the joke immediately in English. How many of us would get it immediately if in Chinese.</description>
		<content:encoded><![CDATA[<p>Yah, Geithner unintentionally made a joke…of! George Bush and his regime made us the laughing stock of the globe. When a ship is sinking and a new captain takes what’s supposedly called the helm; the outcome is dependent more on the crew than the captain. Surely that in itself describes Democracy, or our Representative Democracy. We will continue to be laughed at until we also put the deadwood crew of representatives who were loyal to the last captain where they belong; on the mop and bucket brigade down in the bilge. We can complain and sink; or look for solutions that may or may not keep us afloat. The Chinese got the joke immediately in English. How many of us would get it immediately if in Chinese.</p>
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		<title>By: Brian Del Mar  Denver, Colorado</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18228</link>
		<dc:creator>Brian Del Mar  Denver, Colorado</dc:creator>
		<pubDate>Fri, 10 Jul 2009 04:54:52 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18228</guid>
		<description>Warren teamed up with his cousin Jimmy to re write Margaritaville to reflect the current state of the economy:

Housing bubble pops  
Credit default swaps
The G20 nations are all in a fuss
Credit dried up
After Lehman went bankrupt
laying the blame they&#039;re all looking at us   because I&#039;m --

Wasted away again out here in Omaha
searchin for my  lost 401K
Some people claim that the recession&#039;s to blame but I know That it&#039;s everyone&#039;s fault.

Freddie Mac Indy Mac
Can&#039;t get his house back....
Can&#039;t even afford a Big Mac and Fries
Where all the joy went
on unemployment
and can&#039;t find a job no matter how hard he tries

[CHORUS]

Big Banks are all Zombies
Charging high credit card fees
Obamanomics is way out of hand
The FED is a Ding Bat
Now my Dodge is a FIAT!
and they&#039;re printing dollars as fast as they can

[CHORUS]</description>
		<content:encoded><![CDATA[<p>Warren teamed up with his cousin Jimmy to re write Margaritaville to reflect the current state of the economy:</p>
<p>Housing bubble pops<br />
Credit default swaps<br />
The G20 nations are all in a fuss<br />
Credit dried up<br />
After Lehman went bankrupt<br />
laying the blame they&#039;re all looking at us   because I&#039;m &#8211;</p>
<p>Wasted away again out here in Omaha<br />
searchin for my  lost 401K<br />
Some people claim that the recession&#039;s to blame but I know That it&#039;s everyone&#039;s fault.</p>
<p>Freddie Mac Indy Mac<br />
Can&#039;t get his house back&#8230;.<br />
Can&#039;t even afford a Big Mac and Fries<br />
Where all the joy went<br />
on unemployment<br />
and can&#039;t find a job no matter how hard he tries</p>
<p>[CHORUS]</p>
<p>Big Banks are all Zombies<br />
Charging high credit card fees<br />
Obamanomics is way out of hand<br />
The FED is a Ding Bat<br />
Now my Dodge is a FIAT!<br />
and they&#039;re printing dollars as fast as they can</p>
<p>[CHORUS]</p>
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		<title>By: Cliff VanTuyl, Canton, Michigan</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18227</link>
		<dc:creator>Cliff VanTuyl, Canton, Michigan</dc:creator>
		<pubDate>Fri, 10 Jul 2009 03:25:03 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18227</guid>
		<description>In regards to his Viagra comments: I am wondering, was Mr. Buffett sending a buy signal for Pfizer or for Eli Lilly?</description>
		<content:encoded><![CDATA[<p>In regards to his Viagra comments: I am wondering, was Mr. Buffett sending a buy signal for Pfizer or for Eli Lilly?</p>
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		<title>By: Chris Kelly, Lake Mary, FL</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18226</link>
		<dc:creator>Chris Kelly, Lake Mary, FL</dc:creator>
		<pubDate>Fri, 10 Jul 2009 02:45:13 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18226</guid>
		<description>What? More money flushed down the toilet and saddled as a burden to us and future generations??? You must be out of your mind? Where are the results from the first stimulus we HAD TO HAVE? It sounds like the result is government mismanagement, greed in hording the dollars that did go out, and more. I haven&#039;t seen a dime spent near me, and unless I happen to be a bridge worker (which I&#039;m not) it wont benefit me. SHOW ME THE PROOF THAT THIS IS WORKING&gt; otherwise, get your act together on the allocations to PROVE that $$ can work before asking us taxpayers for another dime.</description>
		<content:encoded><![CDATA[<p>What? More money flushed down the toilet and saddled as a burden to us and future generations??? You must be out of your mind? Where are the results from the first stimulus we HAD TO HAVE? It sounds like the result is government mismanagement, greed in hording the dollars that did go out, and more. I haven&#039;t seen a dime spent near me, and unless I happen to be a bridge worker (which I&#039;m not) it wont benefit me. SHOW ME THE PROOF THAT THIS IS WORKING&gt; otherwise, get your act together on the allocations to PROVE that $$ can work before asking us taxpayers for another dime.</p>
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		<title>By: jack long, montreal, ca</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18218</link>
		<dc:creator>jack long, montreal, ca</dc:creator>
		<pubDate>Thu, 09 Jul 2009 19:23:06 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18218</guid>
		<description>Buffett is best known as Mr Hypocrisy by those who have been following him closely.

1) One of his company General Re was a major player is selling toxic derivative to manipulate balance sheets before he purchased it and AFTER he purchased it. Buffett was fully aware of this (at least after he had purchased it) and continued most of the practice has it was one of the most lucrative of all his companies (by far). 
2)It was revealed a number of years ago (in a sworned testimony by an insurance broker during a governement led investigation in Australia of a dubious large bankruptcy partly caused by toxic derivatives sold by one of Buffett&#039;s subsidiary company) that Ajit Jain, the manager of National indemnity (belonging to Buffett), was actively devising products that he knew were being used for producing misleading financial reports, and he was trying to find a way with the broker to do it so that the regulator would not be able to find out;
3) Buffett wrote in his annual reports a few years ago that he talks daily with Ajit Jain and is aware of all his important contracts so it is very highly doubtful he was not fully aware of these deals;
4) When the story was about to broke out, Buffett, broke a long time tradition and succeed in preempting it by first revealing in a very unusual press release (yet leaving most troubling details out)
5) Under pressure from institutional shareholders, Buffett officialy said he would put a new board member that would be independant and request people to submit their candidature. In the end, he rejected them all and his board remains almost entirely composed of close friends or people he directly or indirectly have power over on. Virtualy nobody truly independant knows exactly what is going on in his companies.
6) His financial reports remains as cryptic as ever, revealing the very minimum details, still refusing quaterly discussing, and making a farce of his annual assembly by make it nearly impossible for anyone to ask meaningful question amid the deluge of questions from people with no financial knowledge and even 12 year old kids ant the very skillfully entertained carnivalesque atmosphere.
7) He made the written promise that he would pay a dividend if his stock (Berkshire Hathawa) would not be as lucrative as a t-bills on a 5 year period, yet like most other promise he made, he broke this one yet again when his stock didn&#039;t and he paid strictly nothing.
8) he urged everyone to buy Wells Fargo a short months ago, while at the same time (as it was revealed much later) his company was actively selling it
9) he used his easy access to the media to promote Goldman Sach and Paulson (formely from Goldman) because he has extremely close ties to Goldman Sach (which bring him to his plate most of his acquisition) and Goldman Sach was heading toward bankruptcy: Buffett succeeded in having the taxpayers bailing it out (via his friend Paulson, but not before he had himself made an investment to capitalise on it raking millions on the operations in a very very short amount of time at huge expense to the taxpayers;
10) he delayed his annual report publication by 1 week and tried to influence the stock of Wells Fargo (of which he is a huge shareholder) which was going to be hit by the result of the stress test singled it out as a very poorly managed bank. He outrageously lied to the public when he said that Wells Fargo had the highest possible standards and implying that it was not involved in dubious or unethical loans to non creditworthy homeowners. At about the time, Richard Cohen was revealing in the Washington Post the following: 
&quot;At age 61, after 13 years of uninterrupted unemployemnt and at least as many of living on welfare get got a mortgage. She got it even though at one time she had 23 people living in the house (576 square feet, one bath) and some ramshackle outbuildings. She got it for $103,000, an amount that  far exceeded the value of the house. The place has since been condemmend.... Halterman&#039;s house was never exactly a showcase - te city had once cited her for all the junk (clothes, tires, etc) on her lawn. Nevertheless a local financial institutin with the cover-your-wallet name of Integrity Funding LLC gave her a mortgage, valuing the house at about twice what a nearby and comparable property sold for. ... Ingergrity Funding then sold the loan to WELLS FARGO &amp; CO&quot;

When Buffett says the economy needs a &quot;stimulus&quot; what he is truly saying: my net worth needs a stimulus from the taxplayers because I have stupidly invested in pretty much all the bubble area of the economy now crumbling (housing industry: carpet, housing, high-price furniture rental that nobody wants, private jet leasing, dubious balance sheet manipulation contracts presented as &quot;re-insurance contracts&quot;, recreation vehicles, oil company investment at the peak of oil price, spectacular sp500 bet that turned out perfectly ill-timed and creating huge losses, etc).

Buffett should assume his errors not have the taxpayers bail him out. 

Buffett wants millions of americans that can barely survive in the current condition send him their savings while he sit on 30 billions of cash and can easily afford a 50% drop of his net worth.

It is OUTRAGEOUS.</description>
		<content:encoded><![CDATA[<p>Buffett is best known as Mr Hypocrisy by those who have been following him closely.</p>
<p>1) One of his company General Re was a major player is selling toxic derivative to manipulate balance sheets before he purchased it and AFTER he purchased it. Buffett was fully aware of this (at least after he had purchased it) and continued most of the practice has it was one of the most lucrative of all his companies (by far).<br />
2)It was revealed a number of years ago (in a sworned testimony by an insurance broker during a governement led investigation in Australia of a dubious large bankruptcy partly caused by toxic derivatives sold by one of Buffett&#039;s subsidiary company) that Ajit Jain, the manager of National indemnity (belonging to Buffett), was actively devising products that he knew were being used for producing misleading financial reports, and he was trying to find a way with the broker to do it so that the regulator would not be able to find out;<br />
3) Buffett wrote in his annual reports a few years ago that he talks daily with Ajit Jain and is aware of all his important contracts so it is very highly doubtful he was not fully aware of these deals;<br />
4) When the story was about to broke out, Buffett, broke a long time tradition and succeed in preempting it by first revealing in a very unusual press release (yet leaving most troubling details out)<br />
5) Under pressure from institutional shareholders, Buffett officialy said he would put a new board member that would be independant and request people to submit their candidature. In the end, he rejected them all and his board remains almost entirely composed of close friends or people he directly or indirectly have power over on. Virtualy nobody truly independant knows exactly what is going on in his companies.<br />
6) His financial reports remains as cryptic as ever, revealing the very minimum details, still refusing quaterly discussing, and making a farce of his annual assembly by make it nearly impossible for anyone to ask meaningful question amid the deluge of questions from people with no financial knowledge and even 12 year old kids ant the very skillfully entertained carnivalesque atmosphere.<br />
7) He made the written promise that he would pay a dividend if his stock (Berkshire Hathawa) would not be as lucrative as a t-bills on a 5 year period, yet like most other promise he made, he broke this one yet again when his stock didn&#039;t and he paid strictly nothing.<br />
 <img src='http://s.wordpress.com/wp-includes/images/smilies/icon_cool.gif' alt='8)' class='wp-smiley' /> he urged everyone to buy Wells Fargo a short months ago, while at the same time (as it was revealed much later) his company was actively selling it<br />
9) he used his easy access to the media to promote Goldman Sach and Paulson (formely from Goldman) because he has extremely close ties to Goldman Sach (which bring him to his plate most of his acquisition) and Goldman Sach was heading toward bankruptcy: Buffett succeeded in having the taxpayers bailing it out (via his friend Paulson, but not before he had himself made an investment to capitalise on it raking millions on the operations in a very very short amount of time at huge expense to the taxpayers;<br />
10) he delayed his annual report publication by 1 week and tried to influence the stock of Wells Fargo (of which he is a huge shareholder) which was going to be hit by the result of the stress test singled it out as a very poorly managed bank. He outrageously lied to the public when he said that Wells Fargo had the highest possible standards and implying that it was not involved in dubious or unethical loans to non creditworthy homeowners. At about the time, Richard Cohen was revealing in the Washington Post the following:<br />
&#034;At age 61, after 13 years of uninterrupted unemployemnt and at least as many of living on welfare get got a mortgage. She got it even though at one time she had 23 people living in the house (576 square feet, one bath) and some ramshackle outbuildings. She got it for $103,000, an amount that  far exceeded the value of the house. The place has since been condemmend&#8230;. Halterman&#039;s house was never exactly a showcase &#8211; te city had once cited her for all the junk (clothes, tires, etc) on her lawn. Nevertheless a local financial institutin with the cover-your-wallet name of Integrity Funding LLC gave her a mortgage, valuing the house at about twice what a nearby and comparable property sold for. &#8230; Ingergrity Funding then sold the loan to WELLS FARGO &amp; CO&#034;</p>
<p>When Buffett says the economy needs a &#034;stimulus&#034; what he is truly saying: my net worth needs a stimulus from the taxplayers because I have stupidly invested in pretty much all the bubble area of the economy now crumbling (housing industry: carpet, housing, high-price furniture rental that nobody wants, private jet leasing, dubious balance sheet manipulation contracts presented as &#034;re-insurance contracts&#034;, recreation vehicles, oil company investment at the peak of oil price, spectacular sp500 bet that turned out perfectly ill-timed and creating huge losses, etc).</p>
<p>Buffett should assume his errors not have the taxpayers bail him out. </p>
<p>Buffett wants millions of americans that can barely survive in the current condition send him their savings while he sit on 30 billions of cash and can easily afford a 50% drop of his net worth.</p>
<p>It is OUTRAGEOUS.</p>
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		<title>By: Bart Hawkins, San Antonio, TX</title>
		<link>http://moremoney.blogs.money.cnn.com/2009/07/09/buffett-the-economy-needs-viagra/#comment-18214</link>
		<dc:creator>Bart Hawkins, San Antonio, TX</dc:creator>
		<pubDate>Thu, 09 Jul 2009 18:40:02 +0000</pubDate>
		<guid isPermaLink="false">http://moneyfeatures.blogs.money.cnn.com/?p=1613#comment-18214</guid>
		<description>What a shame.  Mr. Buffett has joined the dyed-in-the-wool Socialists.

Gee, Warren, guess you&#039;re trying to rig the Ovarian Lottery just a leeeettttllle bit more, eh?

Government intervention in the economy is not akin to Viagra - it is akin to the results of overdosing on that substance.

You can&#039;t get a little bit pregnant, Warren.</description>
		<content:encoded><![CDATA[<p>What a shame.  Mr. Buffett has joined the dyed-in-the-wool Socialists.</p>
<p>Gee, Warren, guess you&#039;re trying to rig the Ovarian Lottery just a leeeettttllle bit more, eh?</p>
<p>Government intervention in the economy is not akin to Viagra &#8211; it is akin to the results of overdosing on that substance.</p>
<p>You can&#039;t get a little bit pregnant, Warren.</p>
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