NY Times Op-Ed - Warren Buffet - "Pretty Good for Government Work" - Compared To Soros?

[TomCADem]

I know that GOP psy-ops are pushing a less than enthusiatic reference to Barrack Obama by financier George Soros, which is being spun by the right as Soros giving Obama his marching orders and the "left" as a directive to progressives to abandon President Obama. Relatively ignored is this Op-Ed by Warren Buffet hailing the Obama administration's work in preventing a second depression. Of course, the GOP psy-ops who are trying to spread dissent ignored HuffPo's reporting that: "Mr. Soros fully supports the president as the leader of the Democratic Party," said Vachon. "He was not suggesting that we seek another candidate for 2012. His comments were made in a private, informal conversation that was about the need for progressives to be more forceful in promoting their agenda. He was stressing the importance of being heard by elected officials."

While the Chamber of Commerce vigorously attacks the President, here is Warren Buffet saying what most of us understand to be true.

Democrats saved the country for a Second Great Depression. Sadly, the right wing media has been spinning this as something to take for granted.

http://www.nytimes.com/2010/11/17/opinion/17buffett.html?_r=1

Let me remind you why I’m writing. Just over two years ago, in September 2008, our country faced an economic meltdown. Fannie Mae and Freddie Mac, the pillars that supported our mortgage system, had been forced into conservatorship. Several of our largest commercial banks were teetering. One of Wall Street’s giant investment banks had gone bankrupt, and the remaining three were poised to follow. A.I.G., the world’s most famous insurer, was at death’s door.

Many of our largest industrial companies, dependent on commercial paper financing that had disappeared, were weeks away from exhausting their cash resources. Indeed, all of corporate America’s dominoes were lined up, ready to topple at lightning speed. My own company, Berkshire Hathaway, might have been the last to fall, but that distinction provided little solace.

Nor was it just business that was in peril: 300 million Americans were in the domino line as well. Just days before, the jobs, income, 401(k)’s and money-market funds of these citizens had seemed secure. Then, virtually overnight, everything began to turn into pumpkins and mice. There was no hiding place. A destructive economic force unlike any seen for generations had been unleashed.

Only one counterforce was available, and that was you, Uncle Sam. Yes, you are often clumsy, even inept. But when businesses and people worldwide race to get liquid, you are the only party with the resources to take the other side of the transaction. And when our citizens are losing trust by the hour in institutions they once revered, only you can restore calm.

[flamingdem]

1. Good on Buffet, he knows what he's talking about

The Obama admin saved our collective rears during that meltdown.

[Walk dont run]

6. TARP - the bank bailout

was done on Bushs watch. Stimulus was on Obama's.

[TreasonousBastard]

2. Curiously, there's another thread trashing Buffet for this article...

begging for the observation that if two people allegedly on the same side can't agree on something as simple as this OpEd piece, how can we ever expect to get anything done...

[Hamlette]

3. that's because "cool kids" don't say anything good about Obama

and DU is too cool for school

(sigh)

[patrice]

4. bingo.

[patrice]

5. I think there's a lot of this going around:

http://www.mayoclinic.com/health/narcissistic-personality-disorder/DS00652/DSECTION=symptoms

[Nay]

7. Aren't we congratulating ourselves a little too soon? I certainly don't

want to rain on a parade, especially since some of the things that were done to prevent a total immediate meltdown actually worked, but geez, look at this country. It's still falling down a well. Just because the banks are flush doesn't mean the rest of us are OK.