Warren Buffet's Business Partner

[Winstonm]

From Charlie Munger, business partner of Warren Buffet (emphasiss added):

 

“Sensible reform cannot avoid causing significant pain, which is worth enduring to gain extra safety and more exemplary conduct. And only when there is strong public revulsion, such as exists today, can legislators minimize the influence of powerful special interests enough to bring about needed revisions in law."

 

Interesting to me that one of the wealthy in America speaks so honestly about the power of special interest groups.

[kenberg]

I read his op-ed piece this morning in the Post. My reaction was that he probably had some good ideas but from his article it was difficult to understand what he was actually suggesting. More morality, one of his suggestions, might well be desirable but genetic alteration is tough to bring about. He favors bipartisanship. Darn, why didn't I think of that. I am more than willing to listen to someone with a record of accomplishment but I really did not grasp his point(s).

[WarrenL]

You guys already said it; I have nothing to add. Munger's piece seems to be a hastily-written attempt to boost public confidence in passing reform legislation at the same time as calling for bipartisanship for the greater good. Unfortunately he seems to have viewed the publication of his article with such urgency that, combined with his arrogance, he did not take the trouble to rewrite it to the point of clarity. Based on the current cabinet one might observe that financial interests have embedded themselves in American government to the point of true separation and reform becoming impossible, but that is another thread. Thanks for the link.

 

http://www.washingtonpost.com/wp-dyn/conte...1003122_pf.html