More Lies At Berkshire: Revised Proxy Reveals Previously Undisclosed Contact Between Sokol And Lubrizol Bankers Ahead Of Stock Purchase

Tyler Durden's picture

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Bansters-in-my- feces's picture

The SEC will do nothing other than ask if there is any new porn movies to watch.

Ritch people and Banksters have different laws than us peasants.

Doña K's picture

The ship is going down and everyone tries to get a last 10 banger hit.

MarketTruth's picture

Forget the 10 bagger at this point and do as the Rothschilds (yes, the world's richest family) have done. Go long physical gold. Sure, if you want to play a bit in the paper fraud market for giggles and few shekels that is fine, yet it is time to migrate to safety with physical gold (and silver).

Oracle of Kypseli's picture

The core is rotting. We are doomed.

Doña K's picture

Is that what you call mental fatigue in metallurgy?

chump666's picture

on wires now

* Japan also upped its nuclear crisis level to 7, on a par now with Chernobyl. There are whisperings that a level 8 could be created.
Ted K's picture

The golf gallery applauds overly politely.  Cancels shark fin soup dinner.

knukles's picture

How come I was never in the same room as Tyler when she was there?

Id fight Gandhi's picture

Sure, but here come the so called experts to say that it's not a 10. So it's better than expected. Buy stocks.

Tyler you should list as many shills out there who said buy the the dip in Japan.

chump666's picture

JP morgan said it the dip.

then this, everything sells.  That buy the dip crap is gone. Oil at 110 Japan will never recover, unless the govt buys eveything and the IMF (US) bail them out redux



Seasmoke's picture

the Good Old Boys at Berkshire may have lived a little bit too long , that they are going to ruin their legacy for history

bob_dabolina's picture

This is so interesting to me.

This is the guy Buffet was going to tap to take over Berkshire.

All these years I have said Buffet was piece of shit was 100% accurate.

I will hand it to big WB in that he was able to break the law and NEVER have been caught. Seriously, that is genious to have never been caught. Hat tip to W/B

Pure genius with a big fat cheeseburger to top it off and a cold glass of all American coca-cola.

Id fight Gandhi's picture

I don't think he will get away with it. This will likely set off closer inspection of their deals. Nobody wants another madoff and that's likely where it's going.

Oh regional Indian's picture

I think crony-psycho-capitalists exhibit nice cannibalistic tendencies.

If only Burn-he Made-off could sing like the full throated canary he is.


knukles's picture

Derivatives are weapons of financial mass destruction.

Urban Redneck's picture

As are ratings agencies- M.A.D. can be a bitch.  

Dan The Man's picture


also,  lots of paranoia.

Blorf's picture

TBTF banks upgraded to stage 5 cancer on the economy.

worms eye view's picture

Corruption has gone mainstream.  There is no place for honesty and truth anywhere in the republic.  The judicial system is blind.  The sheeple just think that business as usual is the truth.  Opting out....

Ricky Bobby's picture

Res publica mortuus est, vivat imperium

Johnk's picture

On the list of things that bother me, billionaire Sokol making $3 million for recommending a stock he liked to Warren is very low on the list.  It's like an average American owning 100 shares of Exxon and telling his wealthy uncle that he thinks it's a good stock. BFD. 

I know there are a lot of Buffett haters on this series of tubes,  and Buffett's coziness with the whole New World Order the past couple years has pissed me off, and Munger went off the rails not long ago with his idiotic comments, but I'll chalk that up to old age. 

Seriously though, this Sokol business is really so awful and earth-shattering that it's making everybody all agitated?  There are far bigger fish to fry.


Rick64's picture

It's like an average American owning 100 shares of Exxon and telling his wealthy uncle that he thinks it's a good stock.

 No its like insider trading. He was privy to info that would benefit him personally before the buying, and it involved the company he represented.

Jason Bourne's picture

No actually Mungers fucking old age did not take him off the rails!! His old fucking age gave him the "I don't give a shit so I'm going to tell you what I really think" freedom.

Fucking self righteous asshole Munger.. May the collapse happen in such a way that the bulk of Americans know who was responsilble

NotApplicable's picture

Hey, Charlie!

Bellow Your Diaphram!

TruthInSunshine's picture

Buffett is a fat, greasy pig, who projects an image of Wilfred Brimley, but would kill his mother for an extra Cherry Coke when he was a kid.

He's a slime bag extraordinaire.

Seymour Butt's picture

And the biggest Welfare Queen.

Johnk's picture

No, Buffett is actually not a fat greasy pig who would kill his mother for an extra Cherry Coke.  I think you're exagerrating just a bit.

I admit that if Buffett was all those things, I would be more upset about the Sokol incident.  

Problem Is's picture

"...the distance is short enough that even a retarded SEC enforcement lawyer can cross it without getting distracted by porn."

I don't know... that tranny porn has been awfully mesmerizing for SEC-Retard-Enforcement-Lawyers over the last decade...

At least Dodd, Frank and Obummer have job opportunities after politics...

rack's picture

Blue Horseshoe loves Anacott Steel

nkktwotwozero's picture

>...that even a retarded SEC enforcement lawyer can cross it without getting distracted by porn.

Just dont distract them while watching "Ow! My Balls!" and 'batin.


HEHEHE's picture

"Neither Dave nor I feel his Lubrizol purchases were in any way unlawful."

Warren Buffett said the above so any debate is effectively over.  He's like a cross between Jesus, JP Morgan, and Uncle Sam.  Who are we to question him?  Besides it's all too complicated for most of us to follow.  I am turning on Dancing With The Stars.

tmftdoyle's picture

For those defending Uncle Warren, perhaps a look at the history of LVLT, in the news today for its offer to purchase Global Crossing, would clear any doubts about your patron saints core principles. As reported, LVLT avoided bankruptcy largerly due to an "investment" by WB during the summer of 2002, also know as the summer of dread for overlevered telecom companies. 

First a little background, WB is bossom buddies with Walter Scott, the chairman-emeritus of Peter Kiewit, chairman of LVLT and a berkshire board member. LVLT is originally a Peter Kiewit company. Mr. Scott's current ownership in LVLT is about 28 million shares. 

The transaction that "saved" (and from WB's perspective the difference in transaction and investment is critical) was a $500mm 9% senior convert sold in the summer 0f 2002. Of course the sycophantic press reported this as an equity investment by WB.  Berkshire bought $100mm of the issue. As would be expected (especially by WB) after the announcement LVLT stock price exploded higher on the deal. WB is instantly in the money  and naturally flips out of his convert shortly after the conversion date for a sweet profit. Nine years later, all the rubes that followed WB in are only 50-75% under water.