Tag Archives: Dan Loeb

Warren Buffet Is The Definition Of “Scumbag”

“There’s class warfare, all right,” Mr. Buffett said, “but it’s my class, the rich class, that’s making war, and we’re winning.”Warren Buffet, NY Times 11/26/2006

The “aura” of Warren Buffet is nothing more than the epitome of Orwellian propaganda.  Nothing is but what is not.  What Buffet “is not” is a good-ole rags to riches boy who has fulfilled the American dream.   Warren Buffet is the quintessential mascot of American hypocrisy, criminality and political corruption.

“A country that is now aspiring to an ‘Ownership Society’ will not find happiness in – and I’ll use hyperbole here for emphasis – a ‘Sharecropper’s Society.’ But that’s precisely where our trade policies, supported by Republicans and Democrats alike, are taking us.”  – Warren Buffet, 2005

Of course, Warren Buffet is one of the biggest beneficiaries of the U.S. trade policies.  I haven’t seen him lift a finger toward implementing reform…

I remember in the mid-90’s when I was working on Wall Street and was “pro” anything that could generate a profitable trade, including Greenspan’s money printing.  But I always cast a weary, suspicious eye on Warren Buffet.   I had read an article back then which detailed the myth vs. reality about Warren Buffet.

For instance, remember the auro of his “everyday man, wrinkled “sack” suits?”  It turns out that his suits were carefully tailored in Italy to cultivate that look and cost thousands of dollars.  How about the myth that he lived with his wife in the same small brick house in Nebraska that he started out in with her?  Total fabrication.  As it turned out, that house had been empty for years – although still owned by him – and Buffet had been mistress-jumping for years.  He also owns expensive homes in lesser-known hideaway places for the ultra-wealthy like Sun Valley and Sante Fe and other places all over the world.

Anyone/Everyone remember his “special” relationship with CNBC’s Becky Quick?  It was so obvious he was sleeping with her that CNBC never tried to deny it by planting disinformation in the alternative media world.

Warren Buffet is the “poster child” for hypocrisy and corruption in this country.  Remember when he made his “derivatives are financial nuclear weapons of mass destruction”  comment? (LINK)  As it turns out, Berkshire Hathaway’s insurance subsidiaries were and are among the largest users and beneficiaries of derivatives in the world.

How about when Buffet made the assertion that the wealthy should pay more in taxes and then it turns out the Buffet himself was paying a lower tax rate than his secretary?

This list is endless.  It has been said that Buffet has a direct line to the Oval Office. I have no reason to dismiss this.  Buffet is the kind of guy who would steal money from a homeless man and use it to get a shoe shine.

It did not surprise me that someone like Dan Loeb had enough backbone to issue harsh criticism of Buffet and Buffet’s overt hypocrisy:

I love reading Warren Buffett’s letters and I love contrasting his words with his actions…I love how he criticizes hedge funds, yet he had the first hedge fund,” Mr. Loeb said. “He criticizes activists, he was the first activist. He criticizes financial services companies, yet he loves to invest in them. He thinks that we should all pay taxes, yet he avoids them himself.  – Business Insider LINK

Warren Buffet is emblematic of everything that is wrong with our system.  The real Buffet is a cold-blooded greedy son of a bitch who would probably sell his kids for a chance to make money on a business deal.  Speaking of kids, the myth circulating in the 1990’s was that Buffet was going to put his wealth in a charitable trust and not leave most of it to his kids when he died.  Anyone hear any updates about the fraudulent story?

It’s ironic that Warren Buffet’s father, Howard Buffet, was a wealthy businessman and Congressman who was an ardent advocate of the gold standard.  In fact, that dispels another myth:  Warren was not a rags to riches investor.  He was born with a silver spoon in his mouth making money the Graham-Dodd way – he’s an inside elitist who uses his well-oiled political control to scheme  legislation that let’s him squeeze every last penny out of this country and trade on inside information…