Obama Goes To Buffett For Economic Advice: More Taxpayer Bailouts Imminent

Tyler Durden's picture

It may not be quite Obama telling us to buy stocks as he did on March 6 due to attractive "profits and earnings ratios", but it is about as close as him advising it is time for everyone to do their patriotic duty and buy shares of floundering Wells Fargo:


We can't wait to hear what 'altruistic', taxpayer bailout-funded ideas the Octogenarian of Omaha had. In the meantime we wonder: just why does Obama have an economic advisory team. Oh wait, after everyone bailed on him, Obama has no economic advisors left at all. Carry on then.

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slaughterer's picture

Its ok if Warren provides some nice folksy memes for BO to regurgitate in his town halls, but when he is called upon for providing a solution, the man is clearly dangerous. 

BaBaBouy's picture

Same Shit ...


Empty Heads = Country Is Toast ...

flacon's picture

Paging Larry Summers. ... Hello? ... Hellooooo? ... No answer.... 

Thomas's picture

That fucking stock jobber gets all the inside tips. He's a hoser. 

Kat's picture

Trouble is, his "folksy memes" can be summed up as "what's good for the economy is transfer payments from taxpayers to me, Warren Buffoon". 

The other trouble is that the idiot American public is as smitten with this asshole as the idiot in chief. 

calltoaccount's picture



Open Letter to Warren Buffett: Put Your Money Where Your Mouth Is

By David DeGraw 

Posted By  On August 19, 2011 @ 5:24 pm In Activism,Economy,Feature,Hot List,Politics & Government |

Dear Warren,

If you are truly sick and tired of the “mega-rich” being “coddled” by a “billionaire-friendly Congress,” as you said in your recent NY Times editorial [3], why don’t you back up your words with some real action and put your money where your mouth is?

As you well know, though you may not admit it publicly, there is a system of political bribery in place that allows the “mega-rich” to control our political process, thus creating the “billionaire-friendly Congress” you claim to be against. Through campaign finance, lobbying and the revolving door the “mega-rich” are able to dominate and corrupt government policy.

If you are serious about what you say, it seems obvious that you would financially support politicians and organizations that seek to change these government rigging processes.  Saying that you want to be taxed more by a paid off government, without changing the system that allows this corruption in the first place, sounds like meaningless rhetoric to me.

While you are at it, if you truly believe in free market competition, you must surely want to break up the “too big to fail” banks that have now rigged your beloved “free market.” Clearly, you can’t have free market competition when a few global financial institutions have consolidated so much wealth and power that they can crash the economy and then get paid off politicians and the Federal Reserve to throw trillions of dollars at a select few and rig the “laws” and “regulations” in their favor. That’s clearly not a free market based on fair competition. Once again, this a symptom of the system of political bribery.

So Warren, what do you think? Are you going to support efforts to make these urgently needed changes, or are you just making meaningless statements to ease your guilty conscience?

If you are truly concerned about the future of America, you should be fighting on these fronts.

I sincerely hope you are a man of your word.

If you would like to discuss these issues further or publicly debate them, please have your people get in touch with me.

Thank you for your time,

David DeGraw
Email: David[@]AmpedStatus[.]com

[1] [2]

Article printed from ampedstatus.orghttp://ampedstatus.org

URL to article: http://ampedstatus.org/open-letter-to-warren-buffett-put-your-money-where-your-mouth-is/

URLs in this post:

[1] http://twitter.com/home/?status=Open+Letter+to+Warren+Buffett%3A+Put+Your+Money+Where+Your+Mouth+Is+http%3A%2F%2Fbit.ly%2FoOQQK1

[2] http://reddit.com/submit?url=http://ampedstatus.org/open-letter-to-warren-buffett-put-your-money-where-your-mouth-is/&title=Open+Letter+to+Warren+Buffett%3A+Put+Your+Money+Where+Your+Mouth+Is

[3] editorial:  http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html?scp=1&sq=buffett%20and%20taxes&st=cse




Kat's picture

Oh, so not gonna happen. 

Warren LOVES a "billionaire friendly congress".  He adores rent seeking - been doing it most of his adult life.

This whining about taxes is rent seeking as is his support for TARP (right after negotiating a sweet deal with Goldman, including in the money options, that would have been an assured mega gain for this fab billionaire only if the "billionaire friendly congress" were willing to transfer taxpayer funds to Goldman.  And they did).

What a disgusting piece of shit this Buffoon is.

Ahmeexnal's picture

Ogolfer must be asking Warren tips on where to vacation like a prince.

slaughterer's picture

Is THIS the reason we are rallying?   NO, say it cannot be. 

Marcuz Aurelius's picture

Let's not forget we will go to WAR azengrcat. You can't teach it tricks, lay-dead, heel, roll over ! 

IQ 145's picture

God what a farce ! I keep having to remind myself this is real and not some kind of play put on by the "Onion". Maybe the actual subject of the call, was, how much are you going to put in my retirement account in Austria if I do what you tell me to? NOthing would surprise me less.

Sgt.Sausage's picture

This can't end well ...

slaughterer's picture

OGolfer clearly has not a single worthwhile idea for the US economy of his own. 

flacon's picture

That's because he's a Constitutional "expert" and a No-Bell "Peace" Prize winner - not an "e-CON-omist" - 

spiral_eyes's picture

I fucking pwned buffett on "job creation" after he wrote that NYT bullshit. emailed him my post, but he didn't respond. probably didn't read it. too busy plotting populatin reduction with billy gates.


obama might as well go to paul krugman. same fucking difference.

Translational Lift's picture

That's because he's a Constitutional "expert" and a No-Bell "Peace" Prize winner - not an "e-CONomist"

Clueless fuck is more like it!!

Buckaroo Banzai's picture

The current Term of Art is, "stuttering clusterfuck of a miserable failure."

IQ 145's picture

"If it walks like a Duck, has feathers all over it, and quacks, it's probably a Duck".

DosZap's picture


I agree w/ the No Bell Prize,but plsssssssssss,Constitutional Spurt?.

To be called that,one must know it, and interpret as the Founders intended.

Something this SO called SPURT has NO CLUE of,and has taught it according to HIS interpretation, instead of the REAL DEAL.

Lord help any student that sat under that SO called SPURTS Const teachings...................closer to Marx than the Original..

TheTmfreak's picture

Let me guess what the answer will be.

Tax the rich, while continuing to feed the "wall street fat cats" (it'll be called something else naturally).

Mr. Poon's picture

Well, "tax the rich" will be the campaign slogan, but the reality will be taxing those who are trying to become rich, while leaving those who already are rich untouched to enjoy their wealth.  The easiest way to do that, of course, is to lay massive taxes on income while leaving assets and capital appreciation alone.

TheTmfreak's picture

Well of course thats what the reality is.

I find it funny that so many people (including politicians) talk shit about the financial industry, but hold this guy high up. Literally the guy who "won the most" in the financial industry. Uhm.... is he the "exception" to the rule? The guy who did best that which so many dislike?

Hypocrisy to the max.

ElvisDog's picture

That's exactly correct. Who do the uber-rich fear? The sort-of rich who might become rich enough to challenge the empires of the uber-rich. But if you can take away a good part of the capital of the sort-of rich, that problem disappears.

Kat's picture

I don't think so.  You becoming super rich does not in any way harm the already uber rich.  They don't care one way or another about you.  Besides, the way to become super rich is to create stuff like google, facebook and other useful inventions the uber rich love.

No, I think it has a lot more to do with the uber rich kids of the people who originally broke their backs to create all that wealth and those to whom it came too easily (Zuckerberg and the google guys).  They're already rich.  They also have "principles" and they would like for you to pay for those principles so that they can feel better about themselves.  Or, they really do have those principles and they figure they should force you to have them too.  At gunpoint.

Any way you look at it, they're fucking assholes.



IQ 145's picture

Ding! Ding! give that man a kewpie doll.

boiltherich's picture

And, the real reality is that income has become so distorted and unequal that the income tax no longer captures near enough of the national income to pay for even ongoing government no less to pay down or service the debt.  It has not for a long time now, that is why they had to borrow against future income of the middle class and poor who will never-not ever- have it to pay.  Now we reach a point that they can't really borrow more from the future incomes of the less than wealthy but the money has to come from somewhere.  Even if we cancel deductions for kids and mortgages, for everything so that we have a postcard type tax filing for income it will not close the gap, even if we redefine financial and other unearned income as ordinary income to be taxed at the 35% rate rather than 0-15% it will not be enough.  Annual national income at a 35% tax rate now cannot satisfy the need for revenue, there simply is not enough and what there is now is in far too few hands.

Answers you will eventually see, a wealth tax.  This would include but not be limited to a national property tax.  A national sales tax (or VAT) which would send me away from the USA, a national luxury tax, a return to high estate taxes on larger non farm estates (one of the few I favor), closing the loopholes on corporate taxes, though I should hope coupled with lowering the rate to an average of our major competitors around the world.  But how ever the government collects it the money has to come from actual people that have it.  And those that actually have wealth know this, that is why they are pulling out the big guns in the class war, and why they are buying real estate in Paraguay, Argentina, and Uruguay. 

Cash_is_Trash's picture

Hulk say: FIAT SMASH!!

Hugh G Rection's picture

Ya Buffet, tell us again how we need to raise taxes on those that can't avoid them with a team of lawyers.

LawsofPhysics's picture

More QE, this time to the bottom 20%, compliments of the folks in the middle.  Screwed again.

Bastiat's picture

Buffet sez:  Suck it up, bitches!

buzzsaw99's picture

why won't that old maggot die? holy f%ck!

Bastiat's picture

Shit Cheney's still alive . . .and Kissinger . . . and Greenspan.


slaughterer's picture

Why not just cut to the chase and PRINT.  Who needs advisors any more when you have a printing press?

Steaming_Wookie_Doo's picture

And so is the Queen, D. Rockefeller, Rothschilds, Bush Snr, etc. Heck Zsa Zsa Gabor has had last rites 4 times already this year.

P.S. I think Becky Quick gave you the thumbs down.

Dr. Richard Head's picture

Actually, he takes the tears of 401K holders rectally.

IQ 145's picture

urrrggh. not a pleasant image.

TruthInSunshine's picture



Obama is a clueless f*ck on anything remotely having to do with economics.

He's in a mad scramble to raise lots of cash, hoping to buy the 2012 election, so reaching out to Comcast's CEO (as he did Saturday Night on Martha's Vineyard, at Comcast's CEO's "cottage") and Warren "Thank You Uncle Sugar" Buffet is just going to be the start to his Wall Street Scumbag ass kissing.

Jamie Dimon, the Treasury Department is yours for the asking, and Lloyd Blanfein, you get any Cabinet position you want, buddy.

Brace yourselves for disgusting scenese of impure acts of perversion and even bestialisty as Obama does the Wall Street rounds, servicing his masters.

BoNeSxxx's picture

With all due respect, every word of your post beyond the first five was superfluous.  :)

slaughterer's picture

Once OGolfer and Michelle start taking midnight yaught rides from Martha's Vineyard to the Hamptons, we will know for sure...

FreudianSlip's picture

Well done Truth...absolutely spot on.  One only has to know who sits in the office nearest his oval office desk to understand what truly drives the man and how he spends his time.  But, of course media will never bring any of the behind scenes into the open.  Media can't afford to lose their advertisers.  Has anyone else noticed all the silly government agency media advertising???  


Remember, wasn't it Arafat surrounded by gay personal body guards?  Didn't he really die of AIDS?  Was that another media coverup?  Amazing how massive amounts of money will let you cover up anything.  Now they use our tax dollars to cover up their frauds and keep us all in the dark.  Time to change who signs the government checks. He who controls the check book controls everything.

steelhead23's picture

Aw Sunshine, You've hit it out of the park.  For Mr. Buffet, to be asked for advice by the POTUS is the ultimate compliment, a true ego boost.  I gotta wonder, how much did Warren pay for that ego job?  We already know that Obama swallows.

IQ 145's picture

Jebus Christos, Warren could get him elected all by himself; assuming some familiarity with black bagging and off shore money accounts, etc. Oh, groan. I think Beer time is coming early today.

blunderdog's picture

This is all true, but hang on a minute...

...no one here really *believes* the preznit can "fix" the economy, do they?

I mean, come on.

Steaming_Wookie_Doo's picture

Well, he can "fix it" for friends.

faustian bargain's picture

The best anyone can do right now is stop making the inevitable outcome worse and worse.

Silvergood's picture

Keep buying Gold and Silver...Heading a lot higher!!