Saturday, May 01, 2010

Et Tu Buffett?

I used to admire Warren Buffet. To me, he was an investor who put ethics and principle above personal gain.  However, after he publicly supported the Democratic platform and candidate Obama, I began to suspect my admiration was being misplaced.  Then  the lobbying efforts by Berkshire Hathaway to exclude previous derivative deals from posting collateral made Mr. Buffett look as self focused as those on Wall Street.   The final straw for me was  Warren Buffett to CNBC: Goldman Sachs Has "Lost the PR Battle At This Point".  His public support for Goldman Sachs leads me to think that there is something that Goldman doesn't want discovered.

I'm sorry to say that I no longer see Mr. Buffett as having higher ethics and principles than his colleagues working for Wall Street firms. 

For more on  Reflections and Musings, check back every Saturday for a new segment.

This is not financial or political advice. Please consult a professional advisor.

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