Previous month:
September 2008
Next month:
November 2008

Warren Buffett on the State of the Economy

068 Thanks to Ben Bennett at 29e for the point to this OpEd piece in the New York Times by Warren Buffett.

Buffett is moving his private funds gradually into 100% US stocks.  Why?  "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful."

Interesting reading.


Tracking the Bailout - Follow the Money

Bailout1 So we've got 700 billion dollars going to bailout the institutions who, along with their willing accomplices in Congress, are largely responsible for the current financial catastrophe.  Unless you are one of those 40% of residents in the US who pay no federal income taxes, you might have some interest in how your taxes (and ultimately those of your great grandchildren) are being disbursed.

Mark Cuban over at Blog Maverick has given us a point to Bailout Sleuth, a site tracking the Treasury Department's execution of the bailout.  And, while I know this might stun you, the first documents released relating to the Treasury Department's contract with the Bank of New York Mellon Corp. - well, they actually blacked out the compensation amounts and terms.Bailout2

Since we're just taxpayers, maybe we don't need to know such details.  You can click the images on this post to see a larger version of these "censored" documents.  You may want to download them and send them to your Congressman and Senators and ask them if a shroud of secrecy between the Treasury Department and these financial institutions is what they had in mind when they handed over $700 billion of our money?

Seems like a reasonable question.