Warren Buffet's presidential endorsement

[whottt]

None of Buffetts companies own much of the ty debt or equity that Paulson wants to buy with that cash, do they?

What an idiot you truly are...smart guy:

Wiki:

On September 21, 2008, Goldman Sach's CEO, announced Goldman Sachs was going to change of status from broker to "Bank holding" and hence be able to seek liquidities from the Federal Reserve Board in consideration for higher regulation concerning its activities. http://www2.goldmansachs.com/our-fir...olding-co.html

Buffett boosts Goldman Sachs with $5-billion investment
3:56 PM, September 23, 2008
Warren Buffett to the rescue: His Berkshire Hathaway Inc. agreed today to invest $5 billion in Goldman Sachs Group via a purchase of preferred stock.

Berkshire also will get warrants to buy up to $5 billion of Goldman common shares.

The deal, announced after markets closed, amounts to a huge vote of confidence by Buffett in the investment banking an, at a time when investors remain spooked about the future of Wall Street.

"Goldman Sachs is an exceptional ins ution," Buffett said in a statement. "It has an unrivaled global franchise, a proven and deep management team and the intellectual and financial capital to continue its track record of outperformance."

Goldman CEO Lloyd Blankfein said the firm considered Buffett’s capital infusion "a strong validation of our client franchise and future prospects." Goldman also said it would raise another $2.5 billion by selling more common stock to the public.

Buffett will earn a hefty 10% dividend yield on his preferred shares. The warrants, which are immediately exercisable, have a strike price of $115 a share.

The deal has given Goldman’s shares a pop in after-hours trading, to $135.87. The stock had gained $4.27 to $125.05 in regular trading, after falling as low as $113.

If you really think Buffett is a greedy idiot, you will have a hard time making your case.

You mean aside from the fact that he's currently the richest man in the world, asshat?

And just got richer due to capitalizing on a taxpayer funded bailout?

Feel free to look keep looking foolish trying though. It is funny.

whottt on September 21st, when the sky was falling:

http://spurstalk.com/forums/showthre...104358&page=27


Corporate Bonds...Preferred Shares...same ing difference. Except preferred shares in this instance are like 5 billion times better.


Although I will admit I didn't excpect Buffet to be one of the ones diving in.

Don't tell me I don't know what I'm talking about...it's you guys that don't know what the anyone is talking about it.



Funny thing is...it doesn't take above average intelligence to see what is going on here...common intelligence can see it...the fact that you guys don't says a lot more about you than it does about me.




Meanwhile...I'll let you guys keep deluding yourself into believing the living breathing walking talking unethical, manipulating, controlling, anti-trust violation known as Bill Gates or anything and anyone to do with him...is altruistic.


Fools.


And Chump...you owe me a vote for McCain. I have a negative net worth due my credit card debt....and that's including my annual income as an asset.

[whottt]

You don't get to say someone else "doesn't know what the " they are talking about.

The fact that you thought the foundation only giving away 5% of its assets per year was greed, instead of what is about to be normally expected from a charitable trust, pretty much says that you are a know-nothing poser.

Idiot...they have to give away that much minimum to maintain their status as a charitable foundation.


That's still less than they'd pay in taxes if they liquidated it...and they can get to choose entirely what that money is spent on.


This is about paying taxes....

This is about the rich paying taxes...this is about Warren Buffet paying taxes.


You guys used a tax shelter as evidence he is altruistic and actually believes his tax the rich stance... ing moron.


If he wants to pay taxes than why did he shelter a vast portion of his wealth?


Wealth he still controlls...


Wealth that was pledged with conditions, conditions he himself can negate as trustee.

Don't give me this is altruism.

A trust is a corporation. It has a charitable purpose, but still must not spend more than it earns if it wants to survive in the long run, just like a for-profit corporation.

It's stated goal is not to survive in the long run.


It's stated goal is to one day be out of business.


Why not just do it now?

Watching you fling your own crap and jump up and down like a monkey is fun, but don't try to pretend you know more than you do, it makes it more sad and less funny.

Yeah well 2 years ago I was a Real Estate Agent and last summer I did everything I needed to become a stock broker....

Stick to flinging poo, little monkey, and let the grown-ups talk.

I'm sorry but you aren't near as smart as you think you are...pompous arrogant ass.

[RandomGuy]

Gawd that was painful to read. More know-nothing poserness.

Seriously.

On September 21, 2008, Goldman Sach's CEO, announced Goldman Sachs was going to change of status from broker to "Bank holding" and hence be able to seek liquidities from the Federal Reserve Board in consideration for higher regulation concerning its activities.

1) That is not a reference to the $700Bn bailout.. That is a reference to banks being able to borrow from the Fed, as ALL banks are able to do, and do so on daily basis.

Buffett will earn a hefty 10% dividend yield on his preferred shares. The warrants, which are immediately exercisable, have a strike price of $115 a share.

2)"Buffett boosts Goldman Sachs with $5-billion investment"

His Berkshire Hathaway Inc. agreed today to invest $5 billion in Goldman Sachs Group via a purchase of preferred stock.

When the author referred to Buffet "earning" a return, the reference was to "his" firm, not Buffett personally.

Anything else you want to bring up to show how little you know about what you are talking about?

[2centsworth]

you are the one that brought it up.

i think you failed to notice that you completely described cindy mccain.

one of the wives is a queen. you said so.

do you have a point to make?

[RandomGuy]

Idiot...they have to give away that much minimum to maintain their status as a charitable foundation.

Indeed they do. It says as much in the notes to their financial statements. It is an IRS rule.

Hence the "about what would normally expect" part.

[2centsworth]

I'm sorry but you aren't near as smart as you think you are...pompous arrogant ass.

that's randomguy to the tee.

[RandomGuy]

I'm sorry but you aren't near as smart as you think you are...pompous arrogant ass.

This from a guy who tells people who don't agree with him "you don't know what the you are talking about... morons"?

I see you have me in the crushing grip of reason. What is next?

"Buffett is a doo-doo head and so are you?"

"Boo- ing-hoo, a guy who a lot of people look up to is voting for Obama, so I'll go out of my way to tear him down"

Sad.

[whottt]

Gawd that was painful to read. More know-nothing poserness.

Seriously.



1) That is not a reference to the $700Bn bailout.. That is a reference to banks being able to borrow from the Fed, as ALL banks are able to do, and do so on daily basis.

...you don't even understand what 700 billion dollar bailout is...good god, I hope there aren't many more like you voting.


It's not just about bad mortgages, it's about capital for banking ins utions...


Guess which bank is going to get the lionshare of it? First, foremost?

Where do you think that money is going to be sitting?

You scare the out of me dude...you literally do.


Yeah...the Fed isn't going to recieve any of this 700 billion dollars...that's why Bernakke is all over this like there's no ing tomorrow.


That's why the shares of Goldman Sachs went up on the news...


What an asshat.

2)"Buffett boosts Goldman Sachs with $5-billion investment"



When the author referred to Buffet "earning" a return, the reference was to "his" firm, not Buffett personally.

Oh ok....that's different then, he's only the chairman of the board and the largest stockholder :roll ing eyes


Just out of curiosity...who else is on the board of Berkshire Hathaway?


And you guys thought the links between Cheney and Haliburton were incriminating?


Get ing real.

Anything else you want to bring up to show how little you know about what you are talking about?

You're a very dishonest person...that's what I would like to add. You proved this emphatically when you drew a line between Buffet and Berkshire Hathaway.


Who do you think you're kidding?

[whottt]

This from a guy who tells people who don't agree with him "you don't know what the you are talking about... morons"?

I don't say that to everybody...just those that don't realize they aren't as smart as they think they are.

I see you have me in the crushing grip of reason. What is next?

"Buffett is a doo-doo head and so are you?"

"Boo- ing-hoo, a guy who a lot of people look up to is voting for Obama, so I'll go out of my way to tear him down"

Sad.

I don't think Buffet is doing anything wrong, I don't think his buy in of Goldman Sachs is wrong, I dont' think them receiving Federal Funds is wrong(as they are going to, make no mistake about it)...it's just when he acts like he's altruistic and not about making money that the problems arise...his business ethics aren't dishonest, but his words most certainly are.

This dude not only only cir vents paying taxes to a sickening degree to maintain spending power over the vast bulk of his wealth...what he does pay on it doesn't go to the country really, and he sends a great deal of it out of the country in the process.


It's about paying taxes...and he is cir venting doing that to maximum he can by law....don't me tell that's altruism, and don't tell me he actually lives his tax the rich creed.

That's where the hostility begins between you and I...

[RandomGuy]

It's stated goal is not to survive in the long run.


It's stated goal is to one day be out of business.

In all honesty, I have not seen the specific trust do ents governing the formation of the two trusts that comprise the Gates foundation.

I would, however hope that a charity that seeks to eliminate poverty and human suffering would have, as its most fervent wish to one day be out of business, having no more poverty or suffering to alleviate.

It would seem from your statements that you know whether the trust is meant to be a durable one that would survive the demise of the trustees.

Do you have a link to the organizing do ents showing it is durable or not?

Do tell.

[ChumpDumper]

And Chump...you owe me a vote for McCain. I have a negative net worth due my credit card debt....and that's including my annual income as an asset.

That means you'll have to take that amount from charity to get my vote.

Maybe you can ask the Gates Foundation for a grant.

[Warlord23]

Whottt ... you've said some dumb things on this forum, but this thread pretty much tops them all. Do you even understand how a charitable foundation works?

It's no big deal to accept once in a while that you're wrong if you're proved wrong. But that's one of your classic responses to being proved wrong; you just dig your own grave deeper and say stupider and stupider things till people forget your original stupid assertion.

[Shastafarian]

I don't say that to everybody...just those that don't realize they aren't as smart as they think they are.

When will you realize you're not as smart as you think you are?

[whottt]

I was lying

I know.

[ChumpDumper]

I know.

I'll do it, like it matters in Texas. I didn't realize you were so deep in cc debt. I'm sure we'll all take that into consideration when you post about finance.

[whottt]

Whottt ... you've said some dumb things on this forum, but this thread pretty much tops them all. Do you even understand how a charitable foundation works?

Sure I do...do you understand what a capital gains tax is...stupid ? Obviously you don't if you think Buffet transferring his wealth condtionally to a charity that he himself is on the board of trustees for, and giving less than he would have paid in taxes, totally in any way he chooses, is a charitable contribution.


Do you understand stupid that the genesis of this thread is based on comments Buffet himself has made about taxes, about the rich paying taxes...and why he endorses candidate X.

Do you understand stupid that this so called charity is 37billion dollars, 37 billion dollars that he still controls, that he has sheltered from being taxed?

Do you undersatand you ignorant dumb incomparably stupid ?

It's no big deal to accept once in a while that you're wrong if you're proved wrong. But that's one of your classic responses to being proved wrong; you just dig your own grave deeper and say stupider and stupider things till people forget your original stupid assertion.

Sorry, but you agreeing with Random guy changes nothing...and I find it amusing how stupid people think multiple stupid people in agreement with one another makes them less stupid.


Or IOW...I wipe my ass with your ignorant, uninformed opinion.

[Shastafarian]

Sure I do...do you understand what a capital gains tax is...stupid ? Obviously you don't if you think Buffet transferring his wealth condtionally to a charity that he himself is on the board of trustees for, and giving less than he would have paid in taxes, totally in any way he chooses, is a charitable contribution.


Do you understand stupid that the genesis of this thread is based on comments Buffet himself has made about taxes, about the rich paying taxes...and why he endorses candidate X.

Do you understand stupid that this so called charity is 37billion dollars, 37 billion dollars that he still controls, that he has sheltered from being taxed?

Do you undersatand you ignorant dumb incomparably stupid ?




Sorry, but you agreeing with Random guy changes nothing...and I find it amusing how stupid people think multiple stupid people in agreement with one another makes them less stupid.


Or IOW...I wipe my ass with your ignorant, uninformed opinion.

Nobody puts baby in a corner.

[whottt]

I'll do it, like it matters in Texas. I didn't realize you were so deep in cc debt. I'm sure we'll all take that into consideration when you post about finance.

you go ahead and do that.....just remember your expertise on finance just lost you this bet.

[ChumpDumper]

Obviously you don't if you think Buffet transferring his wealth condtionally to a charity that he himself is on the board of trustees for, and giving less than he would have paid in taxes, totally in any way he chooses, is a charitable contribution.

What conditions are important to you here? Is he able to take the money he contributes back out for his own use?

[ChumpDumper]

you go ahead and do that.....just remember your expertise on finance just lost you this bet.

No, my overestimation of your financial responsibility lost it -- knowing about your irresponsibility is a bonus that's better than any worthless vote bet anyway.

[TheMadHatter]

why do you guys waste time arguing with whottt?

[ChumpDumper]

why do you guys waste time arguing with whottt?

This credit card debt revelation is a prime example.

It's fun watching him spite his face.

[whottt]

In all honesty, I have not seen the specific trust do ents governing the formation of the two trusts that comprise the Gates foundation.

I would, however hope that a charity that seeks to eliminate poverty and human suffering would have, as its most fervent wish to one day be out of business, having no more poverty or suffering to alleviate.

It would seem from your statements that you know whether the trust is meant to be a durable one that would survive the demise of the trustees.

Do you have a link to the organizing do ents showing it is durable or not?

Do tell.

Wiki:

[edit] Lifespan
In October 2006 the Bill & Melinda Gates Foundation was split into two en ies: the Bill & Melinda Gates Foundation Trust, which manages the endowment assets and the Bill & Melinda Gates Foundation, which "... conducts all operations and grantmaking work, and it is the en y from which all grants are made."[30][31] Also announced was the decision to "... spend all of [the Trust's] resources within 50 years after Bill's and Melinda's deaths."[32][33][34][35] This would close the Bill & Melinda Gates Foundation Trust and effectively end the Bill & Melinda Gates Foundation. In the same announcement it was reiterated that Warren Buffett "... has stipulated that the proceeds from the Berkshire Hathaway shares he still owns at death are to be used for philanthropic purposes within 10 years after his estate has been settled."[32]
The plan to close the Foundation Trust is in contrast to most large charitable foundations that have no set closure date.[citation needed] This is intended to lower administrative costs over the years of the Foundation Trust's life and ensure that the Foundation Trust not fall into a situation where the vast majority of its expenditures are on administrative costs, including salaries, with only token amounts contributed to charitable causes.[33][/quote]



IOW...anyone else will get that money over their dead bodies

They'll control it for the rest of their lives. And it's not like they were ever going to live long enough to spend it anyway...


It's simply hording it paying as little tax on it as possible, for the rest of their lives.


Whether or not they are spending it better than the US Govt would is open to debate...but one that cannot be argued is that they aren't paying taxes on it and a great deal of it is going outside the country.


And they still control it.

[Shastafarian]

Do you think he gets all his "thoughts" from wikipedia?

[RandomGuy]

Whottt ... you've said some dumb things on this forum, but this thread pretty much tops them all. Do you even understand how a charitable foundation works?

It's no big deal to accept once in a while that you're wrong if you're proved wrong. But that's one of your classic responses to being proved wrong; you just dig your own grave deeper and say stupider and stupider things till people forget your original stupid assertion.

Ain't no way he is going to forget this. I am keeping that in my siggy for all time.