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Sat Nov 9, 2013, 11:05 PM

Warren Buffett's best bud Charlie Munger is a despicable sociopath

""Charles Munger, was asked whether the government should have bailed out homeowners rather than banks. "You've got it exactly wrong," he said. "There's danger in just shovelling out money to people who say, 'My life is a little harder than it used to be.' At a certain place you've got to say to the people, 'Suck it in and cope, buddy. Suck it in and cope.'"

But banks, he insisted, need our help. It turns out that moral hazard – the notion that those who know the costs of their failure will be borne by others will become increasingly reckless – only really applies to the working poor.

"You should thank God" for bank bailouts, Munger told his audience. "Now, if you talk about bailouts for everybody else, there comes a place where if you just start bailing out all the individuals instead of telling them to adapt, the culture dies.""

more: http://www.theguardian.com/commentisfree/2013/nov/04/us-republicans-make-poor-pay-budget

After reading that, this makes me want to barf ---->http://www.berkshirehathaway.com/ownman.pdf
"Although our form is corporate, our attitude is partnership. Charlie Munger and I think of our shareholders as owner-partners, and of ourselves as managing partners. "

"Charlie and I hope that you do not think of yourself as merely owning a piece of paper whose price wiggles around daily and that is a candidate for sale when some economic or political event makes you nervous."

Buffett and Munger are partners in BershireHathaway

Which is why I will say again that Buffett is a fucking snake in the grass, associated as he is with Munger, while always trying to paint himself as a magnanimous philanthropist and all around "good guy". fuck you Buffett.

HatTip to GoLeft TV --> http://www.democraticunderground.com/1017157021 "Papantonio: Wall Street Psychopaths Destroying America"

More shit from Buffett---> http://www.bloomberg.com/news/2012-01-23/buffett-s-burlington-northern-among-winners-in-obama-rejection-of-pipeline.html "“Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc. (BRK/A), said in an interview. If Keystone XL “doesn’t happen, we’re here to haul.”

If you want to know more about Buffett using his purchase of BNSF railway and anti-competitive behavior to strip money from ordinary Americans read the 3rd and 4th chapters in David Cay Johnston's " The Fine Print"... here is one tidbit "A look at government data shows that BNSF routinely gouged farmers who had no alternative shipper". Buffett's calls for upping his tax rate so he pays as much as his secretary ring hollow after reading these chapters...

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Reply Warren Buffett's best bud Charlie Munger is a despicable sociopath (Original post)
Agony Nov 2013 OP
adirondacker Nov 2013 #1
Starry Messenger Nov 2013 #2
CFLDem Nov 2013 #3
bluestate10 Nov 2013 #4
PoliticAverse Nov 2013 #5

Response to Agony (Original post)

Sat Nov 9, 2013, 11:33 PM

1. Kick for exposure! Dirty Bastards! nt

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Response to Agony (Original post)

Sat Nov 9, 2013, 11:34 PM

2. K&R

Enemy of unions in CA too.

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Response to Agony (Original post)

Sun Nov 10, 2013, 12:39 AM

3. Ye shall know them by the fruits of their labor...

 

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Response to Agony (Original post)

Sun Nov 10, 2013, 12:45 AM

4. What did you expect?

Buffett and Munger are products of the financial system and to a certain extent, have spent their lives shaping it. The only way to eliminate the view held by Munger and others is to build an alternative system that puts social justice and workers on the same plane with profits.

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Response to Agony (Original post)

Sun Nov 10, 2013, 02:19 AM

5. Buffett's company made out quite well from the bailouts. n/t

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