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alstry (36.32)

Is Warren Buffett A Fraud?

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January 16, 2011 – Comments (11)

The Logic Is As Follows:

A fraudulent loan is one where one "knows or should know" the debt can't be paid back at the inception of the loan.

The government and Wall Street borrowed trillions of dollars to bail out Warren Buffett and a number of publicly traded companies....much of this borrowing came in the form of bonds sold to your retirement, investments, and pension accounts.

In November, Warren Buffett admitted in the New York Times, absent the government handout, Berkshire Hathaway would have gone bankrupt.

Thus, but for the receiving the proceeds of a potentially fraudulent loan......Warren Buffett's Berkshire Hathaway would be bankrupt.

Here is where things get interesting....under the Constitution, ALL Americans are afforded certain rights, including Life, Liberty, and the Pursuit of Happiness......and such rights mandated to be distributed EQUALLY.  Because without equal justice for all, there is effectively no justice for anyone.

If you bail out one and not the other, then you essentially destroy the rights of the one you don't bail out to the benefit of the other.  This is not justice, it is not liberty, it destroys freedom,  this is NOT America.

The question you should ask is if Warren Buffett and Wall Street was bailed out....why wasn't EVERYONE in America bailed out?

And if everyone in is NOT bailed out, including small business owners, small banks, independent contractors, and private citizens....should we claw back the proceeds from the bailout and return justice to America?

11 Comments – Post Your Own

#1) On January 16, 2011 at 11:01 AM, alstry (36.32) wrote:

In the Udder World....EVENTUALLY, there will be liberty and justice for all.

You can keep track of the changes at www.udderworld.com

What good is a system based on fraud?...even if you think it is too big to fail.......in the end, justice always prevails.

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#2) On January 16, 2011 at 12:16 PM, oshiri (< 20) wrote:

Happy New Year Comrade Alstrymous!

     In what maybe a half defense of old Warren, we saw bank get a ton of money from the Feds and they tighten credit to the general public. Buffet, by contrast, at least continued to pass on credit to his customers through 18-months same as cash financing at most of his retail business.

     Is Buffet a crook, probably, but he never turned off the credit tap on his customers. 

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#3) On January 16, 2011 at 12:51 PM, Donnernv (< 20) wrote:

Could you please cite a reference to Buffett's "massive bailout"?  URL preferred.  I must have missed it.

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#4) On January 16, 2011 at 1:15 PM, alstry (36.32) wrote:

My own company, Berkshire Hathaway, might have been the last to fall, but that distinction provided little solace.

Well, Uncle Sam, you delivered.

http://www.nytimes.com/2010/11/17/opinion/17buffett.html?_r=1

Yes Donner, "Uncle Sam" delivered.....Those pretending to be our Uncle delivered the severed head of the Constitution on a silver platter for a few select to cheer.

Without justice for all.....there can be no justice.  It is why our great nation was founded and the foundation for its success.

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#5) On January 16, 2011 at 1:17 PM, truthisntstupid (93.47) wrote:

I don't want to say anything derogatory so please keep posting so more people will reach the same conclusion about you that I have faster.

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#6) On January 16, 2011 at 1:34 PM, TheDumbMoney (58.51) wrote:

"Life, liberty and the pursuit of happiness" is a quote from the Declaration of Independence, not from the Constitution.  See here.  Do you even understand the distinction between those two documents, or did you simply fail to cite check the quote?  It has nothing to do with rights promised by the Constitution. 

But beyond that, the Constitution absolutely does not mandate any equality of income or result.  The Constitution originally even allowed slavery. After a little thing called the Civil War, the 14th Amendment was enacted, which simply prohibits any individual class of people from being discriminated against by government laws that *restrist* them unequally.

Also, you of course neglect the fact that the banks have ALL repaid their "fraudulent loans," with interest, already, including GE and GS, the ones Buffett had direct stakes in.  See here, and here.  The government was repaid with interest. 

Have a nice day.

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#7) On January 16, 2011 at 2:14 PM, Valyooo (99.47) wrote:

I think what Buffett was saying was that the ENTIRE COUNTRY would have failed, and since he and his business are a part of his country, they would have failed as well, albeit lastly.

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#8) On January 16, 2011 at 2:37 PM, Donnernv (< 20) wrote:

Alstry:

Your comment about Buffett's "massive bailout" is clearly nonsense.

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#9) On January 16, 2011 at 3:24 PM, roncool11 (< 20) wrote:

Buffett Didn't get a bailout.......

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#10) On January 16, 2011 at 5:00 PM, alstry (36.32) wrote:

Life, Liberty and The Pursuit of Happiness are INALIENALBE RIGHTS and precede the constitution.  They are fundemental God given, or natural, rights that cannot be taken away.  The 9th amendment in the Constitution, among others, insures these rights....and I am sure you are aware of this because clearly you couldn't be asserting that EVERY American is not entitled to the rights articulated above....at least if you consider yourself an American.

After all, Life, Liberty and the Pursuit of Happiness is why America was created after all.....if you don't like it, I have a number of alternative nations that might suit your fancy.

Donner....

I didn't say Warren wouldn't have been bankrupt but for the handouts, he did in his own words and by his own pen.  Warren's investments through Berkshire, including massive derivative exposoure were primarily financial...especially on the insurance side not to mention his direct investments in Wells Fargo, U.S. Bank, Goldman Sachs, General Electric among others.

All of these companies received MASSIVE handounts while millions of American citizens were thrown on the streets.  And due to these handouts, Warren admits he and his shareholders benefitted massively.

Now we get to a very interesting crossroads, what is more important, maintaining the fundemental rights and legal structure of America....or maintaining the perception of wealth among a few?

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#11) On January 16, 2011 at 5:12 PM, alstry (36.32) wrote:

Please excuse my spelling and failure to capitalize certain words that should have been capitalized.....by sometimes, substance is much more important than form.

It is comical how an otherwise educated person could not think Warren Buffett, Berkshire Hathaway, and every shareholder of Berkshire Hathaway didn't receive a massive handout by government....along with all of the shareholders, banks, bank employees, and executives who laughed all the way to the bank.

And the strange part is many of those people, who would otherwise be bankrupt, have a hard time accepting that we are giving a few hundred dollars a month to subsidize grocery bills to over 43,000,000 Americans....which by the way gives J.P. Morgan millions in revenues and profits administering the program and billions in revenues to the publicly traded grocery companies such as Wal Mart, Super Valu, and Target.

 

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