The Cody Word
  • May 20, 2009 02:09 PM EDT by Cody Willard

    Buffet's a fascist: My tweets of the day

    Got a new intern who's gong to start compiling the trading/business/economic posts from my http://twitter.com/codywillard account every couple days into a read-able blog post. Here's a batch from the last 24 hours:

    Banks/Politics (is there a difference anymore? no!)

    The same banks that have taken government welfare are upgrading each other. Bank of America (BAC) upgrades Goldman Sachs (GS), Goldman Sachs upgrades Citigroup (C), and Citigroup upgrades Bank of America. Analysts at insolvent firms are recommending other insolvent firms. These banks are out to continue colluding and conspiring to figure out ever more ways to pretend they're not totally insolvent and hope that eventually their balance sheets work out.

    In 2006, Warren Buffett of Berkshire Hathaway said, “There’s class warfare, but it’s my class, the rich class, that’s making war, and we’re winning.” When he said that he was actually arguing that the rich shouldn't be propped up the targetsed tax tricks and other forms of welfare. That was just two years before he totally SOLD OUT and went to begging us (the taxpayers) to bail him and his banker friends out with TARP, TALF, et al. Fascist? You tell me -- he and his political and banker friends have created a system under which the government now owns private businesses, and since the actual definition of fascism is the merger of corporate and government powers...well, you tell me if Warren Buffett is a fascist by that definition or not.

    Environment

    President Obama along with many in the Democrat/Republican regime think it is a good idea to use a cap and trade program for carbon pollution. The bill is currently being debated in the House Energy and Commerce Committee. The basic premise would be to set a national cap for carbon pollution, setting certain levels of carbon emissions for each company, and then allowing companies to buy and sell “credits” of pollution if they have a surplus/deficit of needed emissions credits. Every polluter will now figure out a way to profit off their sins -- that's what the Republican/Democrat Regime is TELLING YOU UPFRONT: "Creating a market". Markets are for profits. This is a market for polluting, which is a sin...therefore the Republican/Democrat Regime is purposely creating a way for polluters to profit off their own sins. We should be prosecuting these companies not allowing them to profiteer off their pollution!

    Madoff

    Bernie Madoff's wife, Ruth has said "she feels lonely and shunned since her husband admitted to the fraud." Wait'll SHE gets to prison! We can hope, right?

    Follow my tweets (there's more than this summary every day) at http://twitter.com/codywillard

Tom

Never trust a guy with a mullet. The comments on Buffet are completely off the mark.

May 22, 2009 at 8:32 am

Bodo

Buffett's fascist? So is Jeff Immelt

May 21, 2009 at 9:11 pm

Spote the Roman

Cap & Trade is intended to regulate CO2 emissions, not "pollution." If the environmental movement et al would like to reduce CO2 levels in the atmosphere, have them hold there breath for a few years.

May 21, 2009 at 1:25 pm

J

Politicians are bought by special interest groups and Corps with deep pockets. Our election system is begging for abuse. Potential solution: (I never thought I'd say this) Govt. funding (and caps) for politicians' election campaigns. This age of electronic media makes dissemination of info cheap and easy. Once politicians can no longer be bribed, the playing field will be leveled and govt. will again work for the people.

May 21, 2009 at 11:00 am

w

Benito Amilcare Andrea Mussolini, KSMOM GCTE (July 29, 1883, Predappio, Forlì, Italy – April 28, 1945, Giulino di Mezzegra, Italy) was an Italian politician who led the National Fascist Party and is credited with being one of the key figures in the creation of Fascism. He became the Prime Minister of Italy in 1922 and began using the title Il Duce by 1925. I agree. Two peas in a POD.

May 21, 2009 at 7:12 am

azdolphin

Yes, Buffet, Soros and others. They are straight out there and don't care who knows. What is frustrating is that so many spend all their time blaming the other party. It is not another party. Like Cody says, they are one and the same. I think of them as 2 sides of the same coin. I do like Mr. Stich's idea. Hitting one at the same time is about all we have to work with. That, or find a viable party other than the "2 are the same". The tough part about that is getting people off their "my party is the only way" high horse. I really don't see that happening.

May 21, 2009 at 4:24 am

Mr. Stitch

Hey Cody, I get it. There's a Democrat/Republican regime that's hellbent on bilking taxpayers out of every red cent so that they can funnel it back into a number of corrupt companies that serve as the piggybanks to the aristocracy. I agree with you, but what do we do? It doesn't matter who we vote for. Republicans and Democrats are only serving the interest of a select few. Since the democratic process has failed, this nation needs to find a more novel approach. I would suggest using purchasing power to enact a Boycott. I know this is a simple idea, but hear me out. If people frustrated by the government's actions, target a recipient of bailout funds, say Bank of America for instance, and voice their outrage by emptying accounts and selling stock in that bank on a single day, then it will send the company into a nosedive. Publicity of such actions could inspire a "run on the bank", so that even people unaffiliated with the boycott would be forced to act in its interests in order to avoid losing their deposits. The government will have only two options. They could funnel capital into the bank, in direct contradiction to the interests of their constituents, as demonstrated by their willingness to boycott (which is grounds for revolution) or they could let the bank fail. If the bank fails, we save future generations from endless bailouts. The networks necessary to spread this message have been in place since the Tax Day Protests. If you agree, spread the word.

May 20, 2009 at 4:23 pm

brian

http://www.fame.org/PDF/buffet3.pdf go here to read what warren's father believed in. Amazing this traitor to the free market was raised by this man.... amazing.

May 20, 2009 at 3:19 pm

about this blog

  • Cody Willard is an anchor on the FOX Business Network. Willard is also the principal of an investment management company. He was a long-time featured columnist for the Financial Times and TheStreet.com as well as a regular featured economist and stock picker on CNBC's ''Kudlow & Company."

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