Warren Buffett ended up with a call on GE that was stapled to a put to Uncle Sam

FutureofCapitalism.com notes: David Stockman has a piece up at MarketWatch describing Warren Buffett's thank-you note to Uncle Sam as "gushing drivel" that is factually inaccurate:

Warren Buffett ended up with a call on GE that was stapled to a put to Uncle Sam. No wonder he's grateful. But no taxpayer can be grateful....

Thanks to the Geithner/ Paulson/ Bernanke claque, the needed financial cleansing and purge never happened. Instead, we've just drifted deeper into a statist regime in which Uncle Sam backstops, stimulates, underwrites, and meddles with every aspect of our broken capitalist machine.

Tags: Ponzi Schemes, Rigged Markets, Stocks, Wall Street Greed

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