Buffett Demands Finance Law Help Berkshire

Discussion in 'Wall St. News' started by pspr, Apr 26, 2010.

  1. pspr


    Isn't it nice to have connections in high places?

    "Among the considerations still in the balance: A big provision being sought by Warren Buffett in recent weeks. A key Senate committee had changed its proposed overhaul of derivatives regulation after lobbying by Mr. Buffett's Berkshire Hathaway Inc., potentially helping the famed investor avoid a financial hit, congressional aides say."

  2. The most spectacular rags-to-riches-back-to-rags story ever? :confused: :eek: :( :D
  3. sumfuka


    I guess Buffett really has a plan to take all the money to the grave.
  4. He didn't start out in rags. His father was a US Senator, which kinda explains why he went to high school in DC. and a fondness for the Washington Post. He had amassed $10,000 by graduation. In 1948 dollars translates to what?

    Hence, there's no rags to go back to. Even if there were, with a net worth of 55 billion, it's a little dubious.

    I will say though, a man that labels derivatives as weapons of mass destructiion, probably shouldn't be hedging with them, particularly with unknown counter-parties. I guess he didn't learn his 900 million lesson in forex 3 or 4 years back.
  5. $10,000 in 1948 dollars ~ $88,143.02 in 2009