Pinko Alert: How Warren Buffett Just Inadvertently endorsed Socializing Wall Street

The Week - Business, The Week: Business
Wed, 03/04/2015 - 3:39am

A while back, Seth Ackerman — a writer for the radical left magazine Jacobin — published a long, detailed, and bracing article calling for the socialization of the financial industry. Then, over the weekend, he got a surprising (albeit inadvertent) endorsement from Berkshire Hathaway CEO Warren Buffett. In his annual letter to shareholders, the octogenarian investor extraordinaire gave a big conceptual boost to Ackerman's proposal. To explain: Berkshire Hathaway is a conglomerate, an umbrella corporation for a whole bunch of different companies and stock holdings.

Topics: seth ackerman jacobin berkshire hathaway ceo warren conversely yet berkshire hathaway money-shufflers finally cold war soviet texas alabama north dakota louisiana that management ackerman berkshire hathaway buffett america american alaska wall markets capital financial companies funds company market individual costs idea industry decisions run capitalism state government conglomerate investment stock firm economies argument business invested free swf ruthlessness move political attractive shareholders radical explain income private long insurance letter big resources social allocate admirably put case approach performance structure bureaucracy emotionally centralized pressure provide benefits fund job pay legislature daily federal

More Movie News

More Business News

Jacksonville developer moves forward with Southside affordable housing
BizJournals, Tuesday - 04/30/2024 - 01:00 AM
This developer received permit approval for another affordable housing project.
More | Talk | Read It Later | Share
Ability Housing closer to construction on Southwest Jax affordable units
BizJournals, Tuesday - 04/30/2024 - 01:00 AM
This affordable housing nonprofit received OK from city on construction.
More | Talk | Read It Later | Share
Million-dollar guard shack in the works at Boeing's Cecil location
BizJournals, Tuesday - 04/30/2024 - 01:00 AM
The project will be a one-story vehicle inspection station with a canopy cover and a pre-manufactured guard booth, records show.
More | Talk | Read It Later | Share
Rio Bank’s new location caters to local businesses in Alamo Heights
BizJournals, Tuesday - 04/30/2024 - 01:00 AM
Rio Bank, a Rio Grande Valley financial institution, is solidifying its commitment to its CEO’s hometown with the grand opening of a new branch in Alamo Heights. This milestone marks a significant return to the bank's roots, having begun its journey in 1985 as a retail-focused bank serving local consumers in McAllen, Texas. Under the leadership of CEO Ford Sasser, who hails from Alamo Heights, Rio Bank has undergone a strategic shift.
More | Talk | Read It Later | Share
Missouri House ethics panel drops probe of Dean Plocher after blocking push to release evidence
BizJournals, Tuesday - 04/30/2024 - 12:28 AM
An investigation into accusations of misconduct by Missouri House Speaker Dean Plocher was dismissed Monday at the end of a tense hearing where members of the ethics committee blocked the chair from reading an email about how Plocher’s office had allegedly intimidated possible witnesses. The email, obtained by The Independent through an open records request, was from Lori Hughes, director of administration for the Missouri House.
More | Talk | Read It Later | Share
Kansas lawmakers make final play in hopes of pulling Chiefs, Royals across state line
BizJournals, Tuesday - 04/30/2024 - 12:21 AM
Currently, STAR bonds can cover up to 50% of the financing for a proposed project. If approved, the new language would allow for 100% of the project to be financed over 30 years.
More | Talk | Read It Later | Share

Pinko Alert: How Warren Buffett Just Inadvertently endorsed Socializing Wall Street

Welcome to Wopular

MoviesWithButter : Our Sister Site

More Business News