Videos: Buffett blasts Obama’s handling of economy, crisis mentality
posted at 8:24 am on March 10, 2009 by Ed Morrissey
Share on Facebook | printer-friendly
It turns out that Warren Buffett had a lot more to say on Deadbeatonomics and how Barack Obama runs the White House yesterday than just criticizing Card Check. The notable Obama supporter also attacked the President’s overall handling of the economic crisis and the rhetoric about not “wasting a good crisis”. Mickey Kaus notes that Buffett apparently intended to deliver the message, coming back to it twice (via Instapundit):
BUFFETT: …And, Joe, it–if you’re in a war, and we really are on an economic war, there’s a obligation to the majority to behave in ways that don’t go around inflaming the minority. If on December 8th when–maybe it’s December 7th, when Roosevelt convened Congress to have a vote on the war, he didn’t say, `I’m throwing in about 10 of my pet projects … [snip] …
JOE: Yeah, but you might–might not have fixed…
BUFFETT: But I say…
JOE: You might not–you might not have fixed global warming the day after–the day after D-Day, Warren.
BUFFETT: Absolutely. And I think that the–I think that the Republicans have an obligation to regard this as an economic war and to realize you need one leader and, in general, support of that. But I think that the–I think that the Democrats–and I voted for Obama and I strongly support him, and I think he’s the right guy–but I think they should not use this–when they’re calling for unity on a question this important, they should not use it to roll the Republicans all.
JOE: Hm.
BUFFETT: I think–I think a lot of things should be–job one is to win the war, job–the economic war, job two is to win the economic war, and job three. And you can’t expect people to unite behind you if you’re trying to jam a whole bunch of things down their throat. So I would–I would absolutely say for the–for the interim, till we get this one solved, I would not be pushing a lot of things that are–you know are contentious, and I also–I also would do no finger-pointing whatsoever. I would–you know, I would not say, you know, `George’–`the previous administration got us into this.’ Forget it. I mean, you know, the Navy made a mistake at Pearl Harbor and had too many ships there. But the idea that we’d spend our time after that, you know, pointing fingers at the Navy, we needed the Navy. So I would–I would–I would–no finger-pointing, no vengeance, none of that stuff. Just look forward. ..[snip] …
BUFFETT: Well, I was going to mention to Joe that you’ve heard this comment recently from some Democrats recently that a `crisis is a terrible thing to waste.’
BECKY: Yeah.
BUFFETT: Now, just rephrase that and since it’s, in my view, it’s an economic war, and–I don’t think anybody on December 7th would have said a `war is a terrible thing to waste, and therefore we’re going to try and ram through a whole bunch of things and–but we expect to–expect the other party to unite behind us on the–on the big problem.’ It’s just a mistake, I think, when you’ve got one overriding objective, to try and muddle it up with a bunch of other things.
Buffett, who has seen a lot of his wealth disappear in the flames of Wall Street, has suddenly discovered he backed Nero, and he doesn’t appear terribly happy about it, either. Mickey also notes that the media has paid almost no attention to the fact that one of Barack Obama’s most visible capitalist supporters has begun attacking him publicly. Why might that be? You suppose they’re afraid to point out that the man who gave Obama most of his credibility on economics during the campaign has now discovered that Obama is in over his head?
You must be logged in to post a comment.
Blowback
Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.
Trackbacks/Pings
Trackback URL
Comments
Comment pages: 1 2 Next »
Buffett was so much of a supporter of the idiot messiah and huge taxes on the rich that I think he ought to have to give 95% of whatever wealth he has left to the government and shut up for the rest of his life. Thanks for supporting this marxist agent working towards the destruction of the US, you moron.
progressoverpeace on March 10, 2009 at 8:27 AM
It’s too bad they had to drag the rest of us down with them.
boomer on March 10, 2009 at 8:30 AM
How much room is left under that O-Bus?
jimmy the notable on March 10, 2009 at 8:30 AM
Buffett’s credibility has taken a punch in the face in the past 6 months I guess he has to deflect attention away from himself somehow.
Dave Rywall on March 10, 2009 at 8:31 AM
Looks like Buffett’s trying to throw B Hussein 0 under the Berkshire bus.
OmahaConservative on March 10, 2009 at 8:32 AM
“Obama is wrong about everything…..but I still support him and believe he’s the right guy.”
Yeah, that pretty much explains his solid(for now) poll numbers. Eventually people will put 2 and 2 together and realize he owns this economy.
Doughboy on March 10, 2009 at 8:33 AM
Pardon me, but whom did Buffet support and (ostensibly) vote for?
Buffet is welcome to buff his conservative cred. But the big question remains:
Sheep, cow, or camel?
unclesmrgol on March 10, 2009 at 8:34 AM
Exit question: How soon after the economy rebounds (as it always does) does the first Church of Obama open?
jimmy the notable on March 10, 2009 at 8:34 AM
Axelrod: “Never trust a $%^#$^# capitalist!!! Ok guys, forget about Limbaugh!! Fire up the Greyhound!!”
Patrick S on March 10, 2009 at 8:34 AM
Does Warren want Obama to fail? Seems like it to me.
NoFanofLibs on March 10, 2009 at 8:37 AM
No, he lost it long before that, when he supported the marxist moron in the empty suit. Anyone with a brain knew that Buffett was out of his mind, then – or just an emotional basketcase, flooded with illusory white guilt.
progressoverpeace on March 10, 2009 at 8:38 AM
It’s almost like the girl falling for the “bad boy.” Everyone else can see he’s nothing but trouble, and warn her, but she still goes for him. And now we have to put up with the domestic abuse of the economy.
So does The Onion have such dreamy eyes? I just don’t get it.
rbj on March 10, 2009 at 8:39 AM
But…but…but….he’s the richest man on earth, I think.
Honestly, when I tried to debate people during the campaign, that’s the argument they would put up.
“Warren Buffett endorsed Obama’s economic plan! Do you know more about economics than that really rich guy?? Didn’t think so.”
It is literally the only time in the history of the world that Democrats have trusted the advice of a rich, white guy. Other than Soros, of course. But they don’t obey him out of trust, they do it out of fear.
jimmy the notable on March 10, 2009 at 8:41 AM
Why is it that those who praise The One™ have credibility while those who criticize The One™ have none?
NoFanofLibs on March 10, 2009 at 8:41 AM
How long before the first big supporter of the idiot messiah really turns and calls for him to resign, because this is not fun and games, really?
progressoverpeace on March 10, 2009 at 8:42 AM
I don’t understand how so many intelligent folks didn’t figure this out before they elected the Chicago Machine politician? What did they think was going on there?
qestout on March 10, 2009 at 8:45 AM
What did they think was going on there?
qestout on March 10, 2009 at 8:45 AM
he wasn’t bush that was enough for 905 of those that voted.
unseen on March 10, 2009 at 8:51 AM
I broke the doorknob and lock when I hit it with a hammer. It was frozen. What else was I supposed to do? My wife said I was an idiot. As usual, she was wrong. I was merely having a road to Damascus moment.
JiangxiDad on March 10, 2009 at 8:52 AM
Why won’t Buffett call The One a SOCIALIST.
If it walks like a duck and quacks like a duck then isn’t it a duck.
Dire Straits on March 10, 2009 at 8:53 AM
They didn’t think, and that is the problem.
doriangrey on March 10, 2009 at 8:54 AM
It was eerily reminiscent of the 2004 campaign were the dems all pretended to be huge military supporters, while they campaigned on declaring defeat in Iraq and running away in the most embarrassing and dangerous way possible.
Heh.
progressoverpeace on March 10, 2009 at 8:54 AM
all of us knew teh One was a socialist. how come Buffett didn’t catch on. white guilt? hell, he’s not even a Southerner.
kelley in virginia on March 10, 2009 at 8:55 AM
Hey… Sometime ya just have to break the lock to get into the house… ;O
doriangrey on March 10, 2009 at 8:55 AM
Blame Rush!
Rode Werk on March 10, 2009 at 8:56 AM
The relationship between Obama and his disciples is beginning to look like the typical abusive relationship. They know he’s awful, but they just can’t quit him.
flipflop on March 10, 2009 at 8:56 AM
If Bambi is so tired, I wish he would stay in the White House & keep quiet while he rests. Then maybe the Dow can make a few gains.
kelley in virginia on March 10, 2009 at 8:57 AM
Why is Buffet so racist?
strictnein on March 10, 2009 at 8:57 AM
How about Jack Welch? He kneed Obama in the groin yesterday on Morning Joe.
Welch also mentioned how difficult it is to offer any criticism of Obama in NYC circles. He tried several times this past weekend and was met with immediate and forceful dismissal and denial.
Come to think of it…Welch described people just like you and getalife.
BuckeyeSam on March 10, 2009 at 8:58 AM
he wasn’t bush that was enough for 905 of those that voted.
unseen on March 10, 2009 at 8:51 AM
So, the next election it will be enough to say they’re not Obama. Wonder who will be the Democratic opponent…
qestout on March 10, 2009 at 9:01 AM
It’s the economy, stupid! Commerce Committee determines who gets the tax dollars. What on earth has McCain done to us?! “To gain a foothold on health care and energy policy”–at his age and loss of vitality, what kind of foothold could he possibly be feigning to gain? There is no way in the universe of reality that McCain can dominate leadership in the “3″ committees on health care and energy policy, unless that McCain influence is aligned completely with Obama’s policies. No doubt that is the case.
Another “overcharge” cheap whore pimping the beta blocker “serene” Obama. Sh*t, Obama’s facade would be all the more easily maintained by garnering his POTUS campaign opponent on board the Socialist social programs.
Arizona conservatives had truly better contemplate the real effects of McCain’s re-election next senate race. Irony is not lost on this man. The facade of never taking an ear mark is used to promote Obama’s fiscal fiasco and radical conversion of Federal Socialism defeating our Constitutional Government.
maverick muse on March 10, 2009 at 9:01 AM
Somewhere George Soros is laughing his head off at how he played Warren Buffet for a tool.
Percy_Peabody on March 10, 2009 at 9:01 AM
Buffet has made a lot of money but he’s a very bad judge of character. Too bad he didn’t see this buffoon for what he was before he supported his campaign. Thank you Buffet and all the rest of you enlightened Obama voters . . . you really stuck it to us this time.
rplat on March 10, 2009 at 9:01 AM
wouldn’t it be fun to watch bambi try to throw buffet under the bus? buffett would just by himself a bigger bus & run over bambi.
kelley in virginia on March 10, 2009 at 9:01 AM
I am beginning to detect that the Demos (except for the moonbats) are starting to have buyers remorse. They remind me of the first time you ever dove off a diving board. How many times did you go to edge only to stop and go back. I wonder who will be the first one to go?? I have a feeling we will be seeing some cliff jumpers soon.
Dire Straits on March 10, 2009 at 9:04 AM
You’re a little late, Warren…they’ve already shoved it down our throats. And they’re about to do it again. Too bad he didn’t throw Pelosi under the bus too, she’s the one with the iron fist on the purse strings.
scalleywag on March 10, 2009 at 9:05 AM
Humida humida humida humida! Buffit supported this nitwit!
sabbott on March 10, 2009 at 9:07 AM
I have zip sympathy for people who are now expressing surprise and disappointment in the man they voted for. And I urge all of them to never express a public opinion about a candidate for political office again. To lend their weight to anyone running for political office, when they obviously are unable to judge candidates on their records and words would be irresponsible at best.
*ssh*l*s
ProfessorMiao on March 10, 2009 at 9:08 AM
Obaby getting elected had little to do with thinking. It had to do with feeling. Feeling that Obama was the Candyman. The phrase that comes immediately to my mind is Gravy Train. The real war Buffet is referring to is a class war…and Obama continues to exploit that with skill and energy.
Do you suppose well-to-do Dems, like Whoopie and Warren are just now waking up and figuring out what a Saul Alinsky socialist really looks like? Are they finding it hard to shelter any remaining wealth with Obamanomics?
marybel on March 10, 2009 at 9:08 AM
This vid isn’t even on YouTube from the quick search I just did…what gives? May have to upload it later when I get the chance. Buffet was/is Obama’s key high-profile economic endorser, and though the ‘ol guy makes certain to throw in his continued support, it appeared passionless and by rote.
When it’s all said and done, many powerful people who backed this clown in good faith will have egg caked all over their faces.
RepubChica on March 10, 2009 at 9:09 AM
Buffet lost all credibility when he supported Obama’s polotics. He knows the Democrat’s economic policies are bankrupt, and you can’t tax your way out of a recession.
The housing collapse brought down banking, which in turn brought down the market. The housing collapse was caused by Democrat policies interfering with the free market.
Americans appear to be no smarter than Venezuelans.
Rode Werk on March 10, 2009 at 9:09 AM
Has anyone noticed the futures this morning? Going to be a big opening.
genso on March 10, 2009 at 9:09 AM
Buffett’s rebuke is his reaction to being dissed by Obama who is ignoring his campaign’s major financier Buffett and their mutual contractual promises made prior to election.
Hand in glove. What we have here is a failure to communicate while the wheels on the bus go around and around.
Buffett is denied Oval Office access. Given Soros, there can only be one puppeteer, now.
maverick muse on March 10, 2009 at 9:13 AM
A couple of very important statements made by Buffett during this interview. Obama has taken an absolute financial meltdown and made the decision to throw in his costly pet projects. This is beyond irresponsible.
BUFFETT: Well, I was going to mention to Joe that you’ve heard this comment recently from some Democrats recently that a `crisis is a terrible thing to waste.’
That message right there is a right cross followed by a left hook to every American. That message right there tells all of us that these guys are going to milk us for everything we have in order to obtain as much power as they can. Using this crisis to obtain power.
I have worked full time for 37 years, paid into the system, and saved for my retirement. I have lost 1/2 of my retirement since Obama was sworn in, and I have to live with the statement written above. Makes me sick, literally makes me sick. I’m fighting hatred of Liberals worse than ever before.
Keemo on March 10, 2009 at 9:13 AM
What is the over/under that Peter Griffin Gibbs throws Buffet under the bus in today’s White House press conference briefing??
Dire Straits on March 10, 2009 at 9:13 AM
= politics, I haven’t had my coffee yet.
Rode Werk on March 10, 2009 at 9:13 AM
Let’s just hope Obama doesn’t give any public speeches today.
Doughboy on March 10, 2009 at 9:15 AM
Better yet, resign and “to spend more time with my family”.
Mammy, the girls and the puppy need you, Barack. Don’t let them down.
And America needs you out of the White House. Don’t let us down. We’ll even pay your moving expenses back to your Rezko Estate in Chicago.
Have fun tending your garden! Sorry it didn’t work out! Toodles!
NoDonkey on March 10, 2009 at 9:16 AM
They got McCain to abandon his chairmanship of Commerce Committee with “3″ carrots; namely, health care and energy policy.
maverick muse on March 10, 2009 at 9:16 AM
Percy_Peabody on March 10, 2009 at 9:01 AM
like minds
maverick muse on March 10, 2009 at 9:17 AM
Lots of people were duped by Bernie Madoff, too. Why, he was the chairman of NASDAQ, what could go wrong? Not saying the president is engaging in criminal acts, but there are similarities in the way people threw their trust and support behind him only to find he’d totally misrepresented himself. And it appears he could care less what people think about his policies.
scalleywag on March 10, 2009 at 9:18 AM
Actually, the One is being trumped by the Council on Foreign Relations talk that Bernanke is giving now. Chief among the topics is accounting rules changes that the market has been crying for for months. For all of you conspiracy theorists out there, you know that when the CFR wants something, it gets done.
genso on March 10, 2009 at 9:18 AM
Was thinking the same thing. For some reason, the WH press corps breathlessly brought up Santelli and Kramer, but have been mum on this Buffet rebuke as far as I know. perhaps today? You listening, Tapper?
RepubChica on March 10, 2009 at 9:19 AM
Buffett is rich because he knows how to make money regardless of the economic conditions. All he needs is movement, up or down it doesn’t matter. Obama, for all of his faults, has certainly provided economic movement.
You know, I’ve been thinking about this, and I don’t want Obama to fail. Failing requires that he try. I don’t want him to try. I want him and his cronies and all of the other looters on the planet to be marginalized and discredited to the point that they can’t show their face without being jeered and scorned until they flee.
I believe in free speech. I believe that when someone says that people deserve something they haven’t earned, anyone is free to tell that what a damned idiot they are and shame them off the stage. I believe we are free to tell socialists that they aren’t welcome in America, because their dogma destroys hope and forbids individual freedom.
No, I don’t want Obama to fail. I want him to go away and never come back. I also want all of his friends and the useful idiots that “believe in him” to chose between self-determination and slavery. If they chose slavery, I want them to go away with Obama and never come back.
Immolate on March 10, 2009 at 9:19 AM
I AM saying that Obama is repeating his record of criminal behavior corrupting government’s political corruption to a thorough level of saturation.
In Chicago, Obama enabled attorneys to suck every tax dollar from every public works project. Washingtonians CAN’T WAIT to outdo Chicago politicians, decimating real construction while “overcharging” citizen taxpayers.
maverick muse on March 10, 2009 at 9:24 AM
No such luck.. I think we are going to get a teleprompter moment on Education. Hold your breath…
Dire Straits on March 10, 2009 at 9:24 AM
“Buffet Says Economy Fell Off Cliff”
No Mr. Buffet, it was pushed.
unclesmrgol on March 10, 2009 at 9:25 AM
I have a dear friend back in Los Angeles, who is a longshorman at LA Harbor. He is a closet Conservative, but has told me of the brute force that is used in that union to gain support for Democrats. Anyway, he is telling me about the talk going on right now at the docks. These talks don’t bode well for Obama and Democrats. These longshoreman are losing work as well as losing their retirement, and that statement about not letting an opportunity go to waste is stuck in their brains.
No American, no matter how brainwashed they are, will stand by with a limp dick and watch their financial world crumble. Even the radical supporters of the Liberal movement care about the all mighty dollar. As long as their movement leaves their own personal dollar alone, they are busy supporting the movement, but when the movement takes their own dollars away; wow, out comes some nasty bitches.
Keemo on March 10, 2009 at 9:26 AM
Makes me sick too. Never had an administration make me sick before. May have disagreed with some of them, but they never made me feel disgusted.
scalleywag on March 10, 2009 at 9:27 AM
unclesmrgol on March 10, 2009 at 9:25 AM
Buffett Coyote : Obama Roadrunner
maverick muse on March 10, 2009 at 9:27 AM
Gibbs’ commented yesterday. I saw the video on Kudlow. He said that Buffett agreed with the President, and gibbs didn’t mention any area of disagreement–at least not in the short clip I saw.
JiangxiDad on March 10, 2009 at 9:28 AM
Keemo
scalleywag
TOTAL DISGUST
Americans are abhorred by the audacity of federal socialism!
maverick muse on March 10, 2009 at 9:29 AM
+10
unclesmrgol on March 10, 2009 at 9:30 AM
He’s just paying protection money to the Stalinists so they won’t string him up.
Buffett knows that criticizing the Republicans won’t hurt him, since that party generally respects free enterprise, but, as Bill Gates found out back in the late nineties, if you don’t pay off the Dems, they will look for a way to destroy you. Gates had to learn that lesson personally as the Dems pushed a full-frontal attack on Microsoft that started the 3 trillion dollar demise of the tach bubble.
As heads of public companies, these business people are totally controlled by the feds (ie, Dems) and they know it.
The Dems, Hamas, Taliban, al Quesda, the Bolsheviks, the European communist parties, the Wahhabists in Saudi Arabia, the IRA – they are all protection rackets and wealthy businessmen have to pay them off or be destroyed.
TexasJew on March 10, 2009 at 9:32 AM
We all should feel better today.. I sat there watching “Fox & Friends” and heard Bob Beckel give The One an A+ on his handling of the economy so far. I then threw up.
Dire Straits on March 10, 2009 at 9:33 AM
I think during the election Warren Buffet thought he was Jimmy Buffett….now he’s Warren Buffet again.
wildweasel on March 10, 2009 at 9:37 AM
Buffett agreed with the President? On what, the fact that the sun rose in the east today?
Gibbs really is an idiot . . . and a liar.
AZCoyote on March 10, 2009 at 9:37 AM
Carter was dumb as a rock on the economy. Obama has just helped carter get a “B” if we grade the economy on the curve.
Obama just is flunking in knowledge of economics. How can any honest person expect some solutiions from him?
seven on March 10, 2009 at 9:42 AM
Dire Straits on March 10, 2009 at 9:33 AM
Beckel was totally lost facing Victoria Jackson last night on Hannity. I don’t think I’ve seen him cringe before.
qestout on March 10, 2009 at 9:42 AM
Buffett is senile old man with way too much money to have an opinion that matters to any normal working person. The economy will stay in the tank until Pres. Dumbo figures out that the entire economy is based on confidence and speculation. Not implementing socialism.
Tremmy on March 10, 2009 at 9:43 AM
I used to enjoy hearing Bob Beckel once in a while, when he’d call a spade a spade (uh-oh….gotta be careful I don’t wanna be raaaaacist) but his blind love for The One and the fact his only claim to fame was running Fritz’s Presidential bid sort of relegates him to political oblivion doesn’t it?
Wonder how that hooker/blackmail things working out for him?
Tim Zank on March 10, 2009 at 9:43 AM
For Atrocious, I hope?
What’s Beckel invested in, “Rezko Home and Gardens”?
NoDonkey on March 10, 2009 at 9:47 AM
Has anyone noticed the futures this morning? Going to be a big opening.
genso on March 10, 2009 at 9:09 AM
yes and if you were smart you would use the chance to get out of the market. We will have an uptick for the simple reason that we lost 205 in a month. The market is oversold from a supply/demand POV. In other words pretty much everyone that wanted to sell has sold. Good news will cause the shorts to cover in effect becoming buyers for the short term. A short covering rally can cause a strong upward movement in the stock. however once all the shorts have covered then the market usally rolls over again because there are still no demand for stocks and the lack of buyers causes a fall. No buyers means the stock price has to go down more and more until the price becomes a “good” deal and buyers reemerge.
I really see no reason to buy this uptick. In fact I am looking for a good place to enter a short trade this week.
unseen on March 10, 2009 at 9:51 AM
Buffett is not going to get a lot of sympathy from me. You backed the guy, you deal with the mess. Enough people were warning him in advance.
gridlock2 on March 10, 2009 at 9:55 AM
He wasn’t pressed on it, and I’m sure he counted on that.
JiangxiDad on March 10, 2009 at 10:03 AM
Yeah, fear of losing the gravy train they rode in on. Soros is only interested in Soros and how much money he can make off of other people’s misery. Just look at what he did in practically corning the British pound a few years back. He nearly destroyed their economy, such as it is, but enriched himself almost beyond measure. These guys are the money changers, period.
College Prof on March 10, 2009 at 10:03 AM
Seriously Warren you couldn’t have figured this out in September/October when you were down in FLA with the Messiah?
Someone posted this before from That One’s 1040:
2007 Income: $4,238,165 Dividend Income: $0.00
2006 Income: $991,296 Dividend Income: $1,188
2005 Income: $1,670,995 Dividend Income: $2,754
Warren, I don’t think Barry is too concerned with the market. Never has. You dumb F@#K!
Caper29 on March 10, 2009 at 10:03 AM
As long as Bob can still write checks, he really doesn’t have a beef with the Messiah.
Caper29 on March 10, 2009 at 10:04 AM
Yes. Baghdad Bob Mach II. “The Americans are being driven back into the sea by Saddam’s powerful imperial guard….”
Caper29 on March 10, 2009 at 10:08 AM
Dude; that’s it! I’ve been trying to figure out who this guy reminds me of, and you just nailed it!
Keemo on March 10, 2009 at 10:12 AM
laugh of the day:
Here’s Citi Bank for you. Cancel your credit card before you die……….(hilarious!) Now some people are really stupid!!!! Be sure and cancel your credit cards before you die. This is so priceless, and so, so easy to see happening, customer service being what it is today. A lady died this past January, and Citibank billed her for February and March for their annual service charges on her credit card, and added late fees and interest on the monthly charge. The balance had been $0.00 when she died, but now somewhere around $60.00. A family member placed a call to Citibank. Here is the exchange : Family Member: ‘I am calling to tell you she died back in January.’ Citibank: ‘The account was never closed and the late fees and charges still apply.’ Family Member: ‘Maybe, you should turn it over to collections.’ Citibank: ‘Since it is two months past due, it already has been.’ Family Member: So, what will they do when they find out she is dead?’ Citibank: ‘Either report her account to frauds division or report her to the credit bureau, maybe both!’ Family Member: ‘Do you think God will be mad at her?’ Citibank: ‘Excuse me?’ Family Member: ‘Did you just get what I was telling you – the part about her being dead?’ Citibank: ‘Sir, you’ll have to speak to my supervisor.’ Supervisor gets on the phone: Family Member: ‘I’m calling to tell you, she died back in January with a $0 balance.’ Citibank: ‘The account was never closed and late fees and charges still apply.’ Family Member: ‘You mean you want to collect from her estate?’ Citibank: (Stammer) ‘Are you her lawyer?’ Family Member: ‘No, I’m her great nephew.’ (Lawyer info was given) Citibank: ‘Could you fax us a certificate of death?’ Family Member: ‘Sure.’ (Fax number was given ) After they get the fax : Citibank: ‘Our system just isn’t setup for death. I don’t know what more I can do to help.’ Family Member: ‘Well, if you figure it out, great! If not, you could just keep billing her. She won’t care.’ Citibank: ‘Well, the late fees and charges will still apply.’ (What is wrong with these people?!?) Family Member: ‘Would you like her new billing address?’ Citibank: ‘That might help…’ Family Member: ‘ Odessa Memorial Cemetery , Highway 129, Plot Number 69.’ Citibank: ‘Sir, that’s a cemetery!’ Family Member: ‘And what do you do with dead people on your planet???’ (Priceless!!) You wondered why Citi is going broke and need the feds to bail them out!!
unseen on March 10, 2009 at 10:14 AM
Isn’t the market up today because of Citigroup showing a profit the first two months of the year?
Doughboy on March 10, 2009 at 10:16 AM
Juicey. First Maureen Dowd, now Warren Buffet, who could be next?
bitsy on March 10, 2009 at 10:16 AM
Nothing on CNBC has an ounce of credibility.
DeathToMediaHacks on March 10, 2009 at 10:19 AM
Isn’t the market up today because of Citigroup showing a profit the first two months of the year?
Doughboy on March 10, 2009 at 10:16 AM
Not really that is the mistake retail investors make. the market was oversold. Any good news would have pushed the market up. The fact that Citi can make 8.3b AFTER the gov gave it what $150billion is not really that great of news.
and if you look closer at the news that profit is before taxes and special items. And the CEO does not talk at all about loses. It is operating profit not net profit. It is smoke and mirrors. citibank is insolvent.
unseen on March 10, 2009 at 10:21 AM
Buffet’s a huge Planned Parenthood supporter. The proaborts went all in for Obama this election and are reaping their just rewards; unfortunately, it’s coming at the expense of all Americans.
Fallen Sparrow on March 10, 2009 at 10:23 AM
He doesn’t own all of it. Both Democrats and Republicans pushed the boulder of socialism as far up as they could until it finally started tumbling downhill. Obama was only to eager to speed its descent so he would not let a terrible thing go to waste.
However he was ignorant of just how much devestation it would leave in its wake and who would see him pushing it downhill.
When the boulder finally rests in the low valley, I wonder if the American people will be curious to see whose hand prints are all over the thing and do anything about it.
Democrats and Republicans both need to be held accountable for this mess but I don’t think that’s going to happen.
shick on March 10, 2009 at 10:25 AM
True, but at this point you gotta figure Wall Street will react positively to any good news coming out of the banking industry. Even if the good news is a mirage.
Doughboy on March 10, 2009 at 10:39 AM
Buffet is a senile fool
notagool on March 10, 2009 at 10:46 AM
Ahh yes. Rush is media prep for the alternative media, too. He mentioned this yesterday. He plans to illuminate the finer points of Buffett’s words later on this morning (flyover time).
After reading the transcript on CNBC, I think the Buffett comments are on par with General Colin Powell saying he supported the war, now that it was being engaged, but that he was against it from the beginning. Buffett’s comments on Obama’s domestic agenda are the political equivalent to Powell’s “you break it, you own it” as applied to President Bush’s war in Iraq.
Question is now is whether Obama’s domestic agenda will come under as much fire as President Bush’s foreign policy? Blue Dog Democrats and Blue State Republicans alike gain political cover from Buffetts words and will not be easily cowed into voting for Obama’s budget busting priorities.
Angry Dumbo on March 10, 2009 at 10:51 AM
Buffett supports Obama, but does not support his domestic agenda.
Sound familiar?
Angry Dumbo on March 10, 2009 at 10:56 AM
I think that the reason that Obama wants a civilian army ( as large an as well funded as the military ) is because he does not plan on leaving.
Johan Klaus on March 10, 2009 at 11:00 AM
Et tu buyer’s remorse, Warren?
GarandFan on March 10, 2009 at 11:03 AM
Maybe Citi is using creative bookkeeping and showing the 150 billion as income.
Johan Klaus on March 10, 2009 at 11:08 AM
True, but at this point you gotta figure Wall Street will react positively to any good news coming out of the banking industry. Even if the good news is a mirage.
Doughboy on March 10, 2009 at 10:39 AM
yes and that is why one should look to short this rally instead of buying into it. Some think that it is not until the bears go broke will we have a bull market again. The bears are the same as the bulls they get greedy and fearful. The cover and go long at the wrong time or they stay in there positons too long. There are a lot of false starts before a true bottom is formed. People still believe the recession while bad is you avg recession with a avg recovery. It took 15 years for the DOW to recover during the depression. It takes time for people to wrap their heads around that things have changed.
unseen on March 10, 2009 at 11:11 AM
You gotta wonder when Citibank will join that poor old lady in the cemetery.
They DID make a profit in January and February–but does that include bailout money?
Buffett has caught on to the fact that Obama and the Dem Congress are using the financial crisis to “jam a whole bunch of ‘contentious’ things down” the throats of the American people–things that would NEVER pass in “normal” times.
The question is, are the American people listening to the likes of Buffett, or will they wake up too late, AFTER “contentious things are jammed down their throats”?
Steve Z on March 10, 2009 at 11:16 AM
Comment pages: 1 2 Next »