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Buffett Warns Congress...

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September 28, 2008 – Comments (8)

No kidding Buffett is warning them.  I've gone over and over who this mess hits the most and I've consistently come up with the wealth.  They have no place to hide and their money is not guaranteed and their insurance was a fraud.

So, pass this bill and it will not be the wealthy that are hit, but the tax payer.

8 Comments – Post Your Own

#1) On September 28, 2008 at 9:57 PM, btown819 (95.64) wrote:

Yeah, I suppose that makes sense.  Doesn't Buffett have something like $50 billion?  There's no way an average American like myself can lose as much as a rich guy like Buffett.  My downside is only a few grand, but he can lose as much as $50 something billion!  I hope the bailout passes because I would hate for someone to have to lose $50B; but losing a few grand is ok.

When do I get my tax bill for the bailout if it passes?  Will I get it this year or will it come in 2009?  I wonder if it's tax deductible. Dwot I thought you were Canadian, so what are you worried about?  You won't get a tax bill.

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#2) On September 28, 2008 at 11:25 PM, lquadland10 (< 20) wrote:

Can you image if 1/2 of the country here in the states get pink slips on Wednesday? What a year.

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#3) On September 29, 2008 at 12:59 AM, goldminingXpert (29.76) wrote:

Buffett trying CYA strategy on his failed derivatives bet... yeah, after saying derivates are a "time bomb" he blew up a lot of Berkshire money of a stupid derivative put-selling scheme. The market is crashing and the puts he sold will be worth big bucks. Sux to be him.

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#4) On September 29, 2008 at 1:30 AM, QualityPicks (54.81) wrote:

Not to mention Buffet invested 5 billion in Goldman. If the bailout didn't happen he would be screwed. Of course he was warning Congress, he would have lost a lot of money.

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#5) On September 29, 2008 at 3:57 AM, cbwang888 (25.91) wrote:

 

People look up so much to Warren Buffet. But having so many super rich people to influence the Washington is not a good thing.

Bigger bucks mean bigger voice...

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#6) On September 29, 2008 at 3:57 AM, cbwang888 (25.91) wrote:

 

People look up so much to Warren Buffet. But having so many super rich people to influence the Washington is not a good thing.

Bigger bucks mean bigger voice...

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#7) On September 29, 2008 at 4:53 AM, jester112358 (29.01) wrote:

But Buffett will be dead before his European style puts can be Put to him.  So, the laugh is on the suckers who bought them.  The key is to sell European style options so far into the future you'll be dead before your counterparty can take delivery.  In the meantime spend the premium on jets, mistresses, fine wine and art.   Their paper value in the meantime is irrelevant to your bottom line or your fun.

 Wish I could sell European style Puts or calls on anything with a 30 year time to expire.  But I don't have Buffett's "credibility" :)

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#8) On September 29, 2008 at 11:36 AM, bostoncelitcs (59.34) wrote:

I've heard it all now......according to Michele Malkin.....the "housing crisis" was caused by illegal aliens.....not because institutions made bad loans.......but because latinos and other nationalities live more to a house and don't buy McMansions!

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