Posts Tagged ‘Warren Buffett’

Obama Kills Permit For Job Creating Keystone Pipeline, Obama and Buffy Playing With Their Own Pipeline

January 24, 2012

Warren Buffett’s Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration’s decision to reject TransCanada Corp. (TRP)’s Keystone XL oil pipeline permit.

With modest expansion, railroads can handle all new oil produced in western Canada through 2030, according to an analysis of the Keystone proposal by the U.S. State Department.

“Whatever people bring to us, we’re ready to haul,”Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc. (BRK/A), said in an interview. If Keystone XL “doesn’t happen, we’re here to haul.”

Obama and Buffy the job killer playing with their own pipeline..


Billionaire Warren Buffett Self Appointed Spokesperson Of Families Making $250,000, Yikes

November 22, 2010

Billionaire Warren Buffett said that rich people should pay more in taxes and that Bush-era tax cuts for top earners should be allowed to expire at the end of December.

“If anything, taxes for the lower and middle class and maybe even the upper middle class should even probably be cut further,” Buffett said in an interview with ABC’s “This Week With Christiane Amanpour” that is scheduled to air on Nov. 28. “But I think that people at the high end — people like myself — should be paying a lot more in taxes. We have it better than we’ve ever had it.”

“The rich are always going to say that, you know, just give us more money and we’ll go out and spend more and then it will all trickle down to the rest of you,” Buffett, chief executive officer of Berkshire Hathaway Inc., said in the interview. “But that has not worked the last 10 years, and I hope the American public is catching on.”

House Democratic Leader Steny Hoyer yesterday didn’t rule out backing a temporary extension of the Bush tax cuts for households earning more than $250,000 a year. He said he plans to discuss the matter with Obama.

Families making $250,000 wondering who made him their spokesperson..Buffett has no problems with taxes on personal income, just taxes on his stock Berkshire Hathaway ie Cornhusker Kickback..

Buffett Causes Changes in Latitude..Changes in Attitude…

April 27, 2010

Sen. Ben Nelson (D-Neb.) voted Monday evening against beginning debate on his party’s Wall Street reform bill.

Nelson, a centrist Democrat who also broke with his party on healthcare legislation and several jobs bills, joined Republicans in opposing the legislation.

The vote this afternoon was a long-awaited procedural vote to begin formal debate on the legislation, Democrats’ top legislative priority since returning from recess.

Warren Buffett has accumulated huge positions in derivatives through Berkshire. MidAmerican, one of the nation’s largest utility operators, uses derivatives to hedge against changes in the price of energy.

Capitol Hill aides from both parties said Berkshire’s lobbying campaign has been forceful. Mr. Sokol often invoked his boss’s name, saying how important the issue was to Mr. Buffett, aides say.Berkshire officials have long supported Mr. Nelson. Berkshire employees, including Mr. Buffett, have given Sen. Nelson $75,550 over his political career, more than any other company, according to the Center for Responsive Politics, a nonpartisan group that tracks such data.

Buffett has caused  Ben Nelson changes in latitude changes in atitude..

Cram It Buffett…. This Ain’t Margaritaville

April 26, 2010

WASHINGTON—Democrats took a step toward their goal of overhauling financial regulation, reaching a tentative deal to set restrictions on trading in exotic financial instruments known as derivatives.

Among the considerations still in the balance: A big provision being sought by Warren Buffett. A key Senate committee had changed its proposed overhaul of derivatives regulation after lobbying by Mr. Buffett’s Berkshire Hathaway Inc., potentially helping the famed investor avoid a financial hit, congressional aides say.

The provision, sought by Berkshire and pushed by Nebraska Sen. Ben Nelson in the Senate Agriculture Committee, would largely exempt existing derivatives contracts from the proposed rules. Previously, the legislation could have allowed regulators to require that companies such as Nebraska-based Berkshire put aside large sums to cover potential losses. The change thus would aid Berkshire, which has a $63 billion derivatives portfolio, according to Barclays Capital.

Mr. Buffett’s push is especially notable because he has warned of the potential dangers of derivatives, famously branding them “financial weapons of mass destruction.” The White House has been trying to kill the Berkshire provision on the grounds that it would weaken the government’s ability to regulate the enormous market for derivatives. Berkshire Hathaway argued that it shouldn’t be made to redo existing contracts and that it is already healthy enough to cover its obligations. A fracas over the measure could hurt Democrats. The Obama administration wants to avoid the home-state horse-trading that almost sank its health-care overhaul. Berkshire is based in Omaha, Neb., and has longstanding ties to the state’s Sen. Nelson. Berkshire has argued Congress doesn’t have authority to make it redo existing contracts, especially since the company is sitting on about $20 billion in cash. Mr. Buffett has said he rarely has to post collateral, which is why for Berkshire the new rules could hurt. Contracts smontracks as we have seen with this administration you don’t need no stinking contracts. Time for contract cram down Buffet..This ain’t Margaritaville…