Goodbye David Sokol

Tyler Durden's picture


And next, David Sokol takes down Charlie Munger.

From Reuters:

Hathaway on Wednesday said David Sokol misled the company in the way he
disclosed his financial interest in Lubrizol Corp before pushing
Berkshire CEO Warren Buffett to buy it.

Berkshire said in a statement
its audit committee was still considering the possibility of legal
action against Sokol as a result of his behavior and that it would
cooperate with any government investigation.

We are not sure how the massive report released jives with the Oracular's once pathetic disclaimer: "Therefore, if questioned about this matter in the future, I will simply refer the questioner back to this release."


Full BRK report (link):

Apr 2711

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Double down's picture

The day is just full of good news.

Alienated Serf's picture

interesting, i thought it was the bernank who ordered the birth cert. released today. must have been uncle warren.

MarketTruth's picture

Not specifically about the birther thing....
Word to the wise: Be very careful about following what Denninger says. Especially when it comes to investing, moneyness and the law. He supports the system (that works against you) with such a blind faith that it will eventually be his undoing. Denninger does try and indeed hits some good things now and then, yet he is off the mark on the very large picture. This is normal as micromanagers get the large picture wrong all the time, so they hire independent consultant(s) who easily see the problem. Again, Denninger hits on some good things, yet has major problems on a large scale basis.

long juan silver's picture

Obama's social security number is bogus as well. It was assigned to a Connecticut woman who was born in 1890.


Much more in this:

FIAT_FixItAgainTony's picture

socialist security did not exist in 1890. 

you got junked for that.

i you were being sarcastic (i doubt it), you need to indicate it. 

otherwise one's iq shows.

NotApplicable's picture

No, but someone born in 1890 would've signed up after it was created.

Now, please junk yourself, and make amends.

New_Meat's picture

ol' Tony can't spell, but can't do math either.  newbie half life < 6 weeks. - Ned

FrankDrakman's picture


Socialist security was introduced in the 1930's, when said woman would be in her 40's. do you think they only issued SS numbers to newborns?

I'm not commenting on whether Bambam's SS number is real or not; I have no freakin' clue. I'm just saying your argument is full of it.

FIAT_FixItAgainTony's picture

correct.  it is all shit.  subject is socialist security. yeah, what a shit for freedom arguement.

goverment is daddy and you can't be a big boy (or girl).  so daddy protects you.  but daddy has bankers he owes money to.  so you see daddy's eventually protecting you soooo damn well that you can't do anything without a permit or license for permission from daddy.  you don't own your car, you have a certificate of title because daddy state owns it.  now the push is on to destroy our property rights with fraudclosure.  and to think it all took a major hold on america back with fdr and socialist security...

socialist security - unconstitutional - end of arguement.

congress was supposed to meet "at least one a year".  WHY DO THEY NEVER GO HOME!  Could it be that are busy creating benefits for us that fuck us over?  yeah, that could well be.

time to go for a redress of grievances.

read the Constitution.  it is our duty.

a republic, if you can keep it.


StychoKiller's picture

Social Security #s are recycled (for some idiotic, bureaucratic reason!)

riley martini's picture

 I took a long time for them to age the paper to make it look authenic. Acording to Bloomturd it's humiliating to have to show your birth cert. Funny I have always found it a simple non-event that takes about a minute.

Dr. Richard Head's picture

No shit.  It is pretty much required for every forced permission to drive I have to seek.  WTF?

New_Meat's picture

"that takes about a minute."

how do you make it last that long? - Ned

Hot Shakedown's picture

Laughing my ass off; I can see old warren scratching is head with a bewildered "Mr Magoo" look of disbelief..what? ... What.. .? ..ahhhhh what? ....what ?

Popo's picture

>  "and next he takes down Charlie Munger..."

... or the old man himself.  Don't tell me Buffett's not knee deep in crooked deals.

Problem Is's picture

Sokol is know as the "Fall Guy"... the Victim... Somebody has to go down when the time comes...

And it ain't going to be Uncle "Geritol" Warren...

Andy Lewis's picture

Hey Charley baby, suck this up.

Bicycle Repairman's picture

Buffett always has a Buffer

i-dog's picture

"Don't tell me Buffett's not knee deep in crooked deals."

According to Alice Schroeder, author of 'The Snowball' (Buffett's authorised biography), he was really pissed the day after 9-11 when he found out that his wholly-owned reinsurance arm (General Re) hadn't unloaded their terrorism exposure to the WTC before 9-11 ... because he had specifically told them to unload the WTC about a year before 9-11 and they had not done it!!

Oh, wait ... I guess he is just prescient........ (@17:30)

(FWIW, and from what I've been able to find so far, planning for 9-11 seems to have started around mid-1998).

Cleanclog's picture

But was he born in the USA?

Crazy nutty world.

SunBlaster's picture

All that trouble for $6m?!

Fake Jim Quinn's picture

For a lot less! Remember the after hours mutual fund trading scandal? Multimillionaires getting trashed for making a few hundred grand. These people love money and so even if one of 'em is worth hundreds of millions, a few extra million is a lot of money and skimming it as often as they do adds up. What if Sokol did this a few times already. Pretty soon you'd have a lot more than $6M, maybe 3x that -- and that's alot for anyone.

Judge Holden's picture

This is absolutely true.  This just shows how rotten the system is to the core.  Which is more likely: (1) that Sokol made one illegal trade to make a few million on top of his billions, or (2) that he made his billions by doing this type of bullshit all the time without getting caught before now?


From the Bloomberg story, "Buffett learned of Citigroup’s role introducing Sokol to Lubrizol only when a representative from the bank called to congratulate him on the deal, according to the report." So in other words, Buffett came very close to never finding out about this deal.  I wonder how many other situations were like that?

Freddie's picture

Wasn't this the third time Sokol did this and every time Buffett gave him a pass.  Buffett gave him a pass on this one until it got worse.

israhole's picture

I thought you're  supposed to go to prison for this.

Judge Holden's picture

That whole "rule of law" thing is nice in theory.

LongSoupLine's picture

suck it up Munger, you fuck.

crosey's picture

We'll see how long the "nobility" remains "noble" in their reaction and retribution.

Bicycle Repairman's picture

Retribution?  Google "Elizabeth Monrad".

Joe Davola's picture

What kind of tread prints does that Berkshire bus leave?

digalert's picture

CNBS Becky Quick reporting live from the Buffet massage parlor.

ZippyBananaPants's picture

Not able to talk now because she has Warren's balls in her mouth.

Cone of Uncertainty's picture

WTF took them so long.

This guy is a smegma lick.

gkm's picture

The Bernanke may have to bail BRK from all the attorney fees they`re about to incur.

Re-Discovery's picture

Should've bought silver (I couldn't help myself.)

tmosley's picture

I'm sure you couldn't, with that hand up your ass.

Being a sock puppet, registered 2 weeks and 1 day ago, and already talking trash about silver, right off the bat.

long juan silver's picture

You dont own any south of $30. Jackass.

Re-Discovery's picture

Stick and stones may break my bones, but you'll never kill my silver position.

Started in SLV at 21.37 (want the ticket?)  Now mostly physical.  Yeah, I just started posting.  I mean, why waste good trades on knuckleheads like you.  And I share my trading thoughts, unlike bashers like you who just show up when you're right. Read me.  Maybe I'll make you a few bucks (naaah, I'd rather you just stay my bitch on the other side of the trade.)

Most longer term posters are more friendly and . . .well . . .intelligent.  But you can't say they all haven't tried to enlighten you.  I do not envy your 'posting length' so don't envy my PM length.  Or the length of other things I have.

Re-Discovery's picture

and I almost forgot.  Fuck off.

New_Meat's picture

telling yourself to fuck off?  lovin' it! - Ned

Re-Discovery's picture

How can you really get in touch with reality if you can't tell yourself to Fuck Off every once in a while.  Try it with me "Ned, Fuck Off .. Ned Fuck Off . .Ned Fuck Off."  Now, don't you feel better.  I know I do.

New_Meat's picture

tell yourself to fuck off until you feel better.  rinse and repeat. - Ned

Re-Discovery's picture

Very original, Ned.  Keep up the valuable posts.

Ese Pinche's picture

Welcome to the forum... you have almost been initiated.

long juan silver's picture

moseley's new poodle. go fuck off

Cdad's picture

Munger Take-down party at Dog's house!  Woot!!

Ned Zeppelin's picture

Really, the casual way in which Buffett handled the Sokol affair is a real joke.   Now, they'll eat each other alive.