Ouch, when Buffett speaks, his words can be strong...
"Buffett, one of the world's wealthiest people, appeared to see irony in the fact that many of the banks who marketed complex investments which have now crashed are bearing much of the fallout.
"It's sort of a little poetic justice, in that the people that brewed this toxic Kool-Aid found themselves drinking a lot of it in the end," he said."
Unfortunately, banking heads that brewed this toxic mess walked away with the biggest bonuses in history kind of thing, and I think it was JP Morgan that deepened 2007 losses even more billions by accelerating bonuses. What is truly unfortunate is that too many have gotten ill deserved bonuses, indeed, and had paycheques that were grossly inflated.