Professor Elam

Wed Sept 22 2010

Take a read on Zero Hedge response to Charlie Munger's comments to a group of Univ of Michigan law students. Munger thinks the bailouts were quite justified. No wonder, take a look at how well BRK did among its investments which received such 'free money.'  AS for the rest of us, well we don't deserve the bailouts. 

For far too long Buffet has been playing both sides of the field, defending liberal policies while doing everything to avoid taxable transactions. For someone who has readily championed individual investing, this is typical of top of the market, we deserve it, let the rest of you eat cake,  Marie Antoinette thinking. 

Mish comments at this link.