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Posts Tagged ‘Warren Buffet’

When Warren Buffet invested $5 billion into Goldman Sachs everyone took that as a sign that if he had faith in GS then that just demonstrated how good that company really was. But when Goldman Sachs started getting into trouble and he came prancing out in its categorical defense I got a sinking feeling in my stomach that Mr. Buffet might very well be THE man behind the curtain at the Emerald City.. That other oracle, Alan Greenspan was just a foil… Darth Vader to Warren’s Palpatine if you will…

When the news broke that he was fighting the regulation of derivatives I new for sure that he’s been turned to the Dark Side. This is the man who coined the phrase “Weapons of Financial Mass Destruction” to describe the financial instruments that he has since loaded up on to the tune of $63 billion, no doubt at the insistence of his buddy Lloyd B. over at Goldman’s.

Paul Farrell is a 70s Wall Street veteran.. A lot of people think he’s flown the coop. I do not. He’s of Buffet’s generation so I take his shock and dismay with the mess the World is heading into quite seriously.

Here is his take on the situation:
Buffett defends Goldman, joins greed Conspiracy

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