"You'd think that this sort of laid-bare analysis would be found everywhere, that the merits of these sorts of claims would be what the media would be debating. But you'd be wrong! Where does one have to go to find this sort of analysis and concern? The above was pulled from Gregg Easterbrook's column about football at ESPN!"
You can find the column here.
A sample of Easterbrook's laser-like accuracy:
"A week ago, Warren Buffett rescued Goldman Sachs by injecting $5 billion in capital. Did Buffett bargain for warrants that can be exchanged at an unknown later date for nonvoting shares? No: He is not a fool. Buffett gave Goldman Sachs $5 billion in return for senior preferred stock, the kind that votes and also is more valuable than ordinary shares. That is to say, he used his money to buy something. Goldman can now employ the cash to fix its liquidity problems. The United States Congress and the White House should use the public's $700 billion to buy something, namely senior preferred shares. Why are Congress and George W. Bush not simply following the road map laid out on this problem by the smartest investor of our era? Either Congress and the president are a bunch of blithering fools -- or what they actually want is to insure the public's money is never seen by the public again."
Posts
No comments:
Post a Comment