Warren Buffet comes clean

The venerable Mr. Buffet has taken a hit this year like everyone else, and according to this article, he  Accepts Blame and Faults Others (NYTimes.com), as he is right to do. Warren Buffett has been a critic of financial derivatives for some time (and with good reason). Sadly, even his criticism was not enough to curtail the use of these weapons of mass financial destruction, as he used to classify them. Perhaps if he had come up with this metaphor sooner, that may have helped:

“Participants seeking to dodge troubles face the same problem as someone seeking to avoid venereal disease,” he wrote. “It’s not just whom you sleep with, but also whom they are sleeping with.”


One response to “Warren Buffet comes clean

  1. Great quote. You posts are short and sweet. Definitely bookmarking.

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