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David Stockman – “Warren Buffet’s Humbug”

Recommended reading from David Stockman in regards to Warren Buffet’s “gushing drivel” about the government’s financial bailout: Warren Buffet’s Humbug

(excerpt)

 As it turned out, the probability that a sharp contraction of GE Capital’s footings would not have had noticeable impact on the macro economy was never tested due to the Washington’s alphabet soup of bailouts. Instead, Warren Buffett ended up with a call on GE that was stapled to a put to Uncle Sam. No wonder he’s grateful.

David Stockman saying it like only David Stockman can say it.

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DISCLAIMER: Nothing in this article should  be construed as a personal recommendation or investment advice.  Nor should anything in this article be construed as an offer, or a solicitation of an offer, to sell or buy any particular investment security.   Investors should conduct their own due diligence and seek the advice of a financial and/or investment  professional before making any investment decisions.

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