Posted on 08/22/2008 8:06:17 PM PDT by bruinbirdman
I shudder to think.
“He went on to claim that the pair “don’t have any net worth..”
Leave it to Buffet, to summarize in 5 words, the root cause of an astronomical financial debacle.
Disciple of Ben Graham. He only looks at the value of a thing.
Duke. Hopefully.
No, if you buy now, both your money, his and mine go to the government as their helpful bailout plan wipes out your shares with our money leaving the government with the gain at a later date, you... not so much.
No kidding. Actually, I think they have a negative net worth. Recent articles expose banks and institutions withholding foreclosed home for sale so as not to deepen the equity crisis already on their books. Were all loses to come to light the melt down would be on - so to speak.
And you think they can be concealed?
No doubt the management of these institutions would continue to take home large bonuses while the government connives in helping to keep their cataclysmically bad judgment from being revealed.
No, CBF. When you have a malignant skin cancer only surgery will work. Bactine and Band-Aids have been proven to have no effect.
-Francisco D'Anconia in Ayn Rand's Atlas Shrugged
“Mr Buffett, the celebrated “Sage of Omaha,” “
I could swear he is called the ‘oracle of omaha,’ did this become politically incorrect?
PING
with wide markets the last few months on many traunches. and that they are not subject to any reporting regulations, there is no tape to review trades on. they are trading with an implicit assumption that they will be guaranteed regardless of fnm/fre and the insurer issues.
I would think explicit events showing that this is so (such as this weekend) only help them overall.
“even with his own bouts with corruption,”
More like bouts of getting caught and having to do the public repentance thing.
In effect, after today, the federal government will have formally socialized mortgages in the United States.
.Fannie and Freddie have always had an advantage over the private sector. Congress has just finalized the takeover in law. GSE, Government Sponsored Enterprise, is now government owned. Common stock need no longer apply. Debt and derivatives of F&F are now government bonds.
yitbos
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.