"Warren Buffett, Berkshire, and derivatives: Economic-hypocrite" "Buffett, a Longtime Derivatives Cr

"Warren Buffett, Berkshire, and derivatives: Economic-hypocrite" "Buffett, a Longtime Derivatives Cr

Tom Usher wrote or added | Warren Buffett, Berkshire, and derivatives: Economic-hypocrite (my title)

"In 2003, Buffett called these complex instruments 'financial weapons of mass destruction.' ... Buffett wants his company's $63 billion derivatives portfolio to be essentially grandfathered in. To achieve this, he has lobbied Sen. Ben Nelson, the Nebraska Democrat to whom Berkshire and its employees have contributed $75,550 during his political career—more than any other company."

Everybody gives Warren Buffett a pass because he gave tens of billions to Bill Gates to channel to "charities" Warren knows will further the system of the elitists. It's pure image-making, not from the heart.

Also, the article makes derivatives sound like a good thing; however, when the system came down, derivatives were the main-culprit device of the ultra-greedy in their global Ponzi scheme (suckers beware). The toxics are being hidden and the costs passed onto the lower classes. Buffett knows it too but won't do the right thing.

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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