Thursday, July 15, 2010

President Obama Meets with One of His Controls

The White House has just disclosed that President Obama met yesterday with oligarch Warren Buffett.

The last time Buffett was in heavy contact with the executive branch was when he was in heated phone conversations with former Treasury Secretary Hank Paulson. After those conversations, Buffett bought a multi-billion dollar position in Goldman Sachs. When it them became clear that Goldman was going to be treated different than Bear Stearns and Lehmann Brothers, and that the government was going to support the firm, the stock soared. making more billions for Buffett.

Expect happy talk from Buffett,after this meeting with Buffett.

Reportedly, the meeting was at Buffett's request. Not a good sign. Buffett is a taker. It is not clear what Buffett took from the meeting. But Buffett sure likes the Mr. Rogers happy talk cover. Word out of the meeting is that Buffett came in with a frayed tie, so the President gave him one of his. If that's all Buffett got out of the meeting, I'll eat my shoes.

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