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  1. #41  
    Quote Originally Posted by bclinger View Post
    You would second guess this guy? Why not, you second guess everyone else. Go ahead, we are listening.
    Not sure how to respond to this gem. Something commensurate with the level of maturity of the post I suppose...like..."I know you are, but what am I?" Seriously Ben...go take your pills and pick up your toys. You just lost a half hour off your bed time.
  2. #42  
    Quote Originally Posted by moderateinny View Post
    When Buffett speaks, I listen http://www.cnn.com/2008/POLITICS/09/...eal/index.html

    Sounds like we need to do something after all. I'm not going to second guess this guy.
    I read that and asked myself what does warren get out of this mess?

    How much money does he lose if the bailout does not happen?

    Or

    How much money does he gain if the bailout goes through?

    While I respect warren, I don't give him a free pass....
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  3. #43  
    Quote Originally Posted by theog View Post
    I read that and asked myself what does warren get out of this mess?

    How much money does he lose if the bailout does not happen?

    Or

    How much money does he gain if the bailout goes through?

    While I respect warren, I don't give him a free pass....
    +1 I think of it like the 'Pickens Plan'. The 'Pickens Plan' just makes me think that T. Boone Pickens has a lot of money invested in 1) Natural Gas Conversion parts/services, 2) Wind turbine technology, 3) lots of open land ideal for placing turbines, or 4) All of the above. After all, Warren Buffet and T. Boone Pickens did not make the amount of money they have by selflessly helping the world.
    ‎"Is that suck and salvage the Kevin Costner method?" - Chris Matthews on Hardball, July 6, 2010. Wonder if he's talking about his oil device or his movie career...
  4. #44  
    Quote Originally Posted by Toby View Post
    +1 I think of it like the 'Pickens Plan'. The 'Pickens Plan' just makes me think that T. Boone Pickens has a lot of money invested in 1) Natural Gas Conversion parts/services, 2) Wind turbine technology, 3) lots of open land ideal for placing turbines, or 4) All of the above. After all, Warren Buffet and T. Boone Pickens did not make the amount of money they have by selflessly helping the world.
    Well I can understand the skeptism and respect your opinion(s). I think Buffett is the real deal though and while he has a lot at stake, could probably survive 5 depressions let alone 1 if he wanted to.
  5. #45  
    Quote Originally Posted by moderateinny View Post
    Well I can understand the skeptism and respect your opinion(s). I think Buffett is the real deal though and while he has a lot at stake, could probably survive 5 depressions let alone 1 if he wanted to.
    The real deal from what perspective? He's certainly an astute businessman, so in that respect, he is. And while he's certainly not going to starve, one would be naive to think that he's not going to do everything he can to ensure that he feels as little pain as possible from this.
    ‎"Is that suck and salvage the Kevin Costner method?" - Chris Matthews on Hardball, July 6, 2010. Wonder if he's talking about his oil device or his movie career...
  6. #46  
    Quote Originally Posted by moderateinny View Post
    Well I can understand the skeptism and respect your opinion(s). I think Buffett is the real deal though and while he has a lot at stake, could probably survive 5 depressions let alone 1 if he wanted to.
    Buffett is already in the process of giving all his wealth away.

    His children are to only receive a very small fraction of it.

    H's an old man who's primary motivation in life is altruism.

    He does not see the secondary objective: making a profit on behalf of his Berkshire Hathaway shareholders -- as contradicted by the first.

    When he recently invested into Goldman Sachs, he aggressively negotiated a deal that both minimized his risks while maximizing the potential for profit. That it incidentally served to both help Goldman whilst simultaneusly contributing to stabilizing the credit market -- was a nice harmonic convergence of interests.
    755P Sprint SERO (upgraded from unlocked GSM 650 on T-Mobile)
  7. #47  
    Quote Originally Posted by BARYE View Post
    H's an old man who's primary motivation in life is altruism.
    Altruism or legacy?
    ‎"Is that suck and salvage the Kevin Costner method?" - Chris Matthews on Hardball, July 6, 2010. Wonder if he's talking about his oil device or his movie career...
  8. #48  
    Quote Originally Posted by Toby View Post
    The real deal from what perspective? He's certainly an astute businessman, so in that respect, he is. And while he's certainly not going to starve, one would be naive to think that he's not going to do everything he can to ensure that he feels as little pain as possible from this.
    Barye sums it up nicely above. Having lived in Omaha for a few years, I admit I may have a biased opinion of him.
  9. #49  
    Quote Originally Posted by Toby View Post
    Altruism or legacy?
    If that legacy is one of altruism, does it matter?
  10. #50  
    Quote Originally Posted by Toby View Post
    The real deal from what perspective? He's certainly an astute businessman, so in that respect, he is. And while he's certainly not going to starve, one would be naive to think that he's not going to do everything he can to ensure that he feels as little pain as possible from this.

    And that is the point.... "pain."

    While he is rich, he is not stupid. While he is rich and giving away funds, it must cross his mind that he can give away more funds if he makes more money in the market.

    But everyone knows of the goldman deal... my point was what about secondary interests... you know, like knowing you are going to war... you don't invest in the company that builds the vehicles, but maybe invest in the their suppliers. (To put simply.) But he also has other bank investments... the bailout definitely will ease his mind at night...

    At any rate, I'm not saying I don't trust warren... him saying "we need this bailout money" does not surprise me. I think there needed to be a 3rd party that had no interest either way. But with 700 bn floating around who in the hell am I fooling. lol
    Last edited by theog; 09/28/2008 at 11:47 PM.
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  11. #51  
    Quote Originally Posted by moderateinny View Post
    If that legacy is one of altruism, does it matter?
    Yes, because the two are mutually exclusive. If he's doing it to leave a legacy, it cannot be altruistic by definition.
    ‎"Is that suck and salvage the Kevin Costner method?" - Chris Matthews on Hardball, July 6, 2010. Wonder if he's talking about his oil device or his movie career...
  12. #52  
    Quote Originally Posted by Toby View Post
    Yes, because the two are mutually exclusive. If he's doing it to leave a legacy, it cannot be altruistic by definition.
    If he is giving away his billions, I don't really care why he is doing it - he is still doing it.

    In any event, you obviously don't like the guy - and that is okay. I acknowledge he may have an agenda but I personally respect the man very much and think he has a history of financial conservatism and pragmatism that makes me think that his opinion on the bailout is probably more informed than mine. I'll accept his advice with the skepticism it probably deserves, and it sounds like you'll dismiss it for the same reasons - its all good.
    Last edited by moderateinny; 09/29/2008 at 11:24 AM.
  13. #53  
    Quote Originally Posted by moderateinny View Post
    If he is giving away his billions, I don't really care why he is doing it - he is still doing it.
    I wouldn't even mind if he pitched a little my way.
    In any event, you obviously don't like the guy - and that is okay.
    I don't know where on earth you got that idea. I admire him quite a bit. I just don't think his motives are purely selfless.
    I acknowledge he may have an agenda but I personally respect the man very much and think he has a history of financial conservatism and pragmatism that makes me think that his opinion on the bailout if probably more informed than mine. I'll accept his advice with the skepticism it probably deserves, and it sounds like you'll dismiss it for the same reasons - its all good.
    Quite the contrary. I think his opinion of the bailout is extremely valuable precisely because of his financial track record. I'm an Invisible Hand kind of guy.
    ‎"Is that suck and salvage the Kevin Costner method?" - Chris Matthews on Hardball, July 6, 2010. Wonder if he's talking about his oil device or his movie career...
  14. #54  
    Fineman's take on the repercussions of the bailout...
    ‎"Is that suck and salvage the Kevin Costner method?" - Chris Matthews on Hardball, July 6, 2010. Wonder if he's talking about his oil device or his movie career...
  15. #55  
    Quote Originally Posted by Toby View Post
    I wouldn't even mind if he pitched a little my way.

    I don't know where on earth you got that idea. I admire him quite a bit. I just don't think his motives are purely selfless.

    Quite the contrary. I think his opinion of the bailout is extremely valuable precisely because of his financial track record. I'm an Invisible Hand kind of guy.

    No worries then - sorry if I misunderstood you. I think we're more on the same page than not.
  16. #56  
    Well, Bush can note another "record" under his watch:

    NEW YORK (CNNMoney.com) -- Stocks skidded Monday, with the Dow slumping nearly 778 points, in the biggest single-day point loss ever, after the House rejected the government's $700 billion bank bailout plan.


    http://money.cnn.com/2008/09/29/mark...ex.htm?cnn=yes

    House rejected the plan... see how this plays out...
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  17. #57  
    Bush? Hey, when 40% of the Democrats do not support it and they have the majority and a sufficient number to pass it on their own, how can it be Bush's fault? Pelosi sunk her own plan, it was not the Bush plan. As a result, every bit of it goes on her shoulders, she is the one that destroyed people today. Her "speech" before the vote really did her in. Also, didn't 65 Republicans or some number in that area vote for it? Didn't she pack up and go back home afterward?
  18. #58  
    Quote Originally Posted by bclinger View Post
    Bush? Hey, when 40% of the Democrats do not support it and they have the majority and a sufficient number to pass it on their own, how can it be Bush's fault? Pelosi sunk her own plan, it was not the Bush plan. As a result, every bit of it goes on her shoulders, she is the one that destroyed people today. Her "speech" before the vote really did her in. Also, didn't 65 Republicans or some number in that area vote for it? Didn't she pack up and go back home afterward?
    Did Benny get his whittle feelings hurt too?

    Just ignore the facts again Ben...you do it as well as any other right-winger.

    Again, the GOP promised 50% of their caucus would vote for the bill and the Dems promised 50% of their caucus would vote for it. It is not a popular bill - nobody wants to vote for this thing - but for the sake of our country the GOP made a deal, and then BROKE IT. The Dems delivered 61% of their caucus...11% more than promised in the negotiations. The GOP promised 80 votes and then turned around and SCREWED the American people because their whittle feelings got hurt.
  19. #59  
    Quote Originally Posted by theog View Post
    Well, Bush can note another "record" under his watch:

    NEW YORK (CNNMoney.com) -- Stocks skidded Monday, with the Dow slumping nearly 778 points, in the biggest single-day point loss ever, after the House rejected the government's $700 billion bank bailout plan.


    http://money.cnn.com/2008/09/29/mark...ex.htm?cnn=yes

    House rejected the plan... see how this plays out...
    My support for this bill is tepid at best - I fear it will only slow the inevitable. We're probably heading into a depression and it might not be something that can be stopped. That said, if we're going down we may as well go down fighting. They need to get a bill passed. I've already seen reports of some county governments may have to shut down in a few weeks if they cannot get access to credit. I don't think this plan was explained or sold very well at all. The consequences are far more reaching than Wallstreet.
  20. #60  
    Quote Originally Posted by moderateinny View Post
    My support for this bill is tepid at best - I fear it will only slow the inevitable. We're probably heading into a depression and it might not be something that can be stopped. That said, if we're going down we may as well go down fighting. They need to get a bill passed. I've already seen reports of some county governments may have to shut down in a few weeks if they cannot get access to credit. I don't think this plan was explained or sold very well at all. The consequences are far more reaching than Wallstreet.
    yup -- to all of the above...
    755P Sprint SERO (upgraded from unlocked GSM 650 on T-Mobile)
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