Warren Buffett Makes Billions off of American’s Misery-Blames Homehowners for Victimizing BANKS!!!

     Wow, it is incredible for a multi-billionaire to suck up to every politician he can find to gain insider influence, then turn that influence into bailouts for companies he buys so he makes billions personally, but then has the unmitigated GALL to blame average, everyday Americans for VICTIMIZING BANKS, when these same Americans are paying to bail out this poor victimized banks and subsidize his insane profits.  Now that takes a lot of guts! 

     It is one thing for this guy to make billions by backing Fannie and Freddie’s reckless promotion of sub-prime loans and Goldman Sachs and other Wall Street firm’s bundling of worthless mortgages into Mortgage Backed Securities (MBS), AKA “poop in a bundle”, but then to blame the average American homeowner when they lose everything they have, then have their home foreclosed on because Buffet and his ilk have created a housing bubble that literally threw this country into a DEPRESSION. 


    Mr. Buffett, what you fail to admit is that during the first 18 months or so following the 2007 Depression, most of the sub-prime homes were foreclosed on and these homes were taken back by the victimized banks.   It was you, your cronies on Wall Street, Fannie Mae, Freddie Mac and the Federal Government that set up these homeowners with loans they did not qualify for under any lending standards.  So, the initial 18 months of loses by the victimized banks were caused by their own lending practices and your greed to roll over MBS. 

     Between late 2009 and now, the majority of the rest of the foreclosures or forced short sales are to long-term homeowners who were squeezed out of their homes by a loss of half or more of their equity and a loss in jobs or revenue to their businesses due to your wonderful Depression.  Most small businesses always thought that if they had at least 2 years of cash to back up their businesses, they could ride out recessions.  What they did not realize that this DEPRESSION would last over 5 years with still no end in sight!


     I agree with Governor Christie, “WRITE A CHECK AND SHUT UP”.  Unfortunately the check should be made out to many of those homeowners who lost everything so you could get out of paying billions in taxes while raking in billions in profits.  The only difference between you and George Soros is that Soros is at least out front with his machinations!  You lurk around the shadows of government and suck the lifeblood out of this Nation’s Citizens through your corrupt crony capitalism. 

Buffett, You Are Truly Pathetic!

RD Pierini

Hat Tip:

Bloomberg:   http://www.bloomberg.com/news/2012-02-27/buffett-says-banks-victimized-by-evicted-homeowners-who-emerged-as-winners.html

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