You don’t get to be the Oracle of Omaha by passing up opportunities. And when the economy is ruled by the whim of a phone with a pen, you fundraise for him, you defend him in the media and then you lobby like there’s no tomorrow.
Because there just might not be.
When most panicked during the financial crisis, Warren Buffett invested, reaping more than $10 billion, The Wall Street Journal reported Monday.
Warren Buffett sat down and wrote Treasury Secretary Paulson a four-page letter proposing a larger solution to the financial crisis: a quasi-private fund backed by the U.S. government that would buy bad loans and other rapidly sinking investments. He proposed that for every $10 billion put up by the private sector, the federal government would kick in $40 billion…
As he admitted on CNBC at the time, “If I didn’t think the government was going to act, I wouldn’t be doing anything this week.”
“Warren Buffett is one of those people that I listen to.” Obama added that the Oracle of Omaha was one of his “economic advisers.”
There are are two recent cases where Warren has done everything possible to AVOID paying taxes that he actually owes. The first case involved a 14-year fight over the dividend-received deduction that was finally settled with the IRS in 2005. The second case is still pending after 10 years in which he owes just over $1 BILLION in back taxes.
Warren Buffett, like George Soros, has done quite well under the Obama Regime.
Under Bush, in 2004, Soros was no. 54 on the Forbes 400 with a net worth of 7 billion. Four years later his net worth was up 4 billion. Four years after that it was up 8 billion.