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Buffett Says He Can’t See Rationale for Bank Levy

zimmer

zimmer

Educating the Ignorant
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Buffett Says He Can?t See Rationale for Bank Levy (Update2) - Bloomberg.com

Obama announced a plan last week to impose a fee on as many as 50 financial companies to recover losses from the federal government’s Troubled Asset Relief Program. The levy would apply to firms with more than $50 billion in assets, including Wells Fargo and Goldman Sachs, two companies that Berkshire has investments in. It would exclude Fannie Mae and Freddie Mac, the government-sponsored mortgage lenders taken over by the U.S.

“I don’t see any reason why they should be paying a special tax,” said Buffett

“Look at the damage Fannie and Freddie caused, and they were run by the Congress,” said Buffett. “Should they have a special tax on congressmen because they let this thing happen to Freddie and Fannie? I don’t think so.”

“Most of the banks didn’t need to be saved,” Buffett said. “Including Wells Fargo.”
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Welcome to the club Warren... many don't see any reason for a lot of the damage the president has inflicted or has tried to inflict... if his goal is to have America and Americans prosper.


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'Bout time old Warren started distancing from Obama. Geez.
 
Erod said:
'Bout time old Warren started distancing from Obama. Geez.
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May have spoken to soon. Report is surfacing that Buffet has announced his support of Geithner and Bernanke.
 
this ridiculous little refrain began with obama's highly touted BANK SUMMIT on december 14

Obama: It's Time for Banks to Step Up - CBS News

he basically told the bankers (whom the nite before on 60 minutes he referred to as "fat cats")---we bailed you out, you owe us

LOL!

what a whiney little bitch

well, naturally the goldmans and morgans all ignored the gnat, several didn't even fly in for his face-to-face in the first place

so a month later he comes up with this, his FINANCIAL CRISIS RESPONSIBILITY FEE (LOL!)

from which he EXEMPTS (naturally) GM and chrysler and fannie and fred and other TOO BIG TO FAIL entities that HE is now accountable for

his FCRF (LOL!) is pure improvisation, the glintiest germ of concept was not even yet a gleam in his greedy eye when he met the bankers IN DECEMBER

he just makes all this garbage up by the seat of his size 32 pants

in front of everybody

completely improvisational, completely amateur

and totally incoherent

the upshot---THIS is obama's rationale: the banks won't lend as i've begged em to, SO I'LL TAX EM

LOL!

this bank tax he has now leapfrogged to the very top of his domestic agenda, now that all his favorite stuff is dead, health care, cap and trade, regulatory reform

the most incompetent politician at the national level america has ever produced

no vision, no plan, no unity of purpose

just petty political reaction

and small ball, at that

a tax on banks---LOL!
 
Erod said:
May have spoken to soon. Report is surfacing that Buffet has announced his support of Geithner and Bernanke.
Click to expand...
I saw an interview with him and Gates where both praised the adminstration efforts to reign in the financial crisis, especially Bernanke.
 
the president's impromptu pivot to populism---LOL!

don't forget, this is the admin whose treas secty guaranteed in full all aig obligations, rewarding obscenely the most insider of fat cat friends

then, as director of ny fed, geithner ordered the abundantly bailed out too big to dissemble before the sec

obama the populist---what a phony

he has a very low opinion of the american electorate

Geithner Singled Out In TARP Watchdog Neil Barofsky's Scathing Report On AIG Bailout

NY Fed, AIG Emails Spark New, Bipartisan Criticism Of Geithner

the bank tax holds ugly exemptions

it will be seen as improvisational, ad libbed, fly by nite, ie, political

it's rationale---to force banks to lend---does not hang together, even for dummies

the most inept leadership modern america has ever suffered

hang in, folks
 
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