Friday, October 17, 2008

An Open Letter To Warren Buffet

Dear Mr. Buffet,


I admire you for putting some of your money into stock market and maybe it will work out. I know you believe strongly in the character of the man tells you more then the man speaks. I also know that if you know a person’s friends and who he associates with tells you about the man’s real character.


I understand you endorse Mr. Barack Obama for President. What I need is some help on understanding why you would do such, considering the following.

Mr. Obama has never shared with the voters anything about his grades and courses of study while in college. I know you would never hire someone with a short career in the financial field without knowing about their schooling. So I ask why would someone hide such from a potential employer?


Mr. Obama met this fellow by the name of Bill Ayres when he first returned to Chicago from Yale. When Mr. Obama was questioned about Mr. Ayres he said he did not know him. But once presented with evidence by the national med that he had served on boards with the man and only then did Mr. Obama remember him.

However, Mr. Obama has offered us voters no less then five stories on his relationship with Mr. Ayres. My question is how can us voters trust him when he has to keep changing his story as more facts are learned from outside sources? If you had an employee that kept changing their story on some business dealings just how long would you keep them employed?


Mr. Obama also met Rev. Wright and started attending his church when he arrived in Chicago from Yale. Rev. Wright has been long known in Chicago as “fire and hell” minister. This has often documented by the local news media, be it the print or electronic.

It seems Mr. Obama’s friend Oprah Winfrey had attended Rev. Wright’s church prior to Mr. Obama arrived in town. It has been reported by several print outlets that she left the church because of his radical preaching. She has never stated any reasons other then she decided to change churches.


Rev. Wight’s anti government, anti white, anti free enterprise, and other hatred has came from his lips for over 25 years. He makes no bones about what he thinks and shares it with his followers every Sunday.

My question here is why would Mr. Obama set in the church pews for 20 years and listen to radial sermons? Then only after Rev. Wright’s ravings are shown on national television does he elect to separate himself from the church? Mr. Buffet does that not rise to what Mr. Obama’s real values are and what he really believes?

I understand Mr. Buffet that you believe in Social Justice but is that not a two way street so everyone can meet in the middle? I mean, if one side is teaching hatred for one side it is pretty hard for the other side to extend their hand. We hardly can meet in the middle when one party is full of hatred!


Maybe you can help me out on understanding Mr. Obama’s relationship with Tony Rezko. Mr. Rezko said in federal court recently he first talked to Mr. Obama when he was still a student at Yale but that is not what Mr. Obama had said before.

A big concern Mr. Buffet is Mr. Obama had a professional, political, and family friendship with Mr. Rezko. Mr. Rezko owned a company Mr. Obama knew about that rehabbed and managed low income apartments in Chicago. Mr. Obama claims to have had little professional contact, as a lawyer, with him.


When Mr. Obama ran for Illinois Senate he developed a political relationship with Mr. Rezko, in the way of political contributions and the hosting fund raising events. There is nothing wrong with this outside to establish they knew each other in more then casual nature Mr. Obama had previously offered.

Once Mr. Obama was elected to the Illinois Senate he assisted in getting a bill passed that allowed Mr. Rezko to make millions of dollars on one of many low income projects he was taking part in.


Mr. Rezko was sued a number of times Chicago by the Chicago Housing Authority for not keeping the low income apartments in decent repair. There were actually protests by residents that drew the attention of the media over these issues. The stories showed up in the newspapers and on television. Yet, Mr. Obama to this day claims he never heard of these problems.

Mr. Rezko most infamous problem when the heat to one of the large low income housing buildings was turned off for four weeks because the gas bill had not been paid. The Chicago Housing Authority had to sue Mr. Rezko to force him to pay the bill and get the natural gas turned back on. This was covered by both local print and electronic media. Again Mr. Obama said he did not know anything about such.


Now you have to understand Mr. Buffet some of these buildings wherein a short driving distance to Mr. Obama’s home. He would have often traveled close enough to them to see the broken windows, broken play equipment, and trash strewn about. Again Mr. Obama has maintained he did not know anything about such.

Mr. Obama purchased a house and as part of the overall deal Mr. Rezko purchased the vacant lot next to Mr. Obama’s home. At a later date Mr. Obama purchased part of the vacant lot from Mr. Rezko. Mr. Obama said, only after being pressured by the media, that he did a dumb thing by getting involved in the home purchase with Mr. Rezko.


I ask you Mr. Buffet if you interviewed a possible employee and he gave you these stories would you hire him? Would you want to share this kind of information to other investors and claim he is your number one employee?

Mr. Buffet, I am sure you are on first name basis with Penny Pritzker. You know, the Finance Chair of Mr. Obama’s campaign. While her worth is not like yours, but she is non the less a billionaire, a couple times around.


Ms. Pritzker formally owned a bank called Superior Bank of Chicago. The bank that was taken over by the FDIC in 2001. The FDIC indicated that one of the biggest cause of the bank failure was bad mortgage loans made by the bank and its agents. In order to stay out of court she paid the FDIC $100 million at one time and agreed to pay $335 million more over 15 years.

Mr. Buffet, I wonder how you feel about the poor people who savings where not covered by the FDIC insurance. She never stepped up to the plate to cover their losses. Some how I do not seeing this as a practice of social justice.

Mr. Obama has known Ms. Pritzker for years, yet he has never objected to her causing those with less, harm. Mr. Obama has never shown concern for this and that by itself would indicate he endorses such behavior.


Mr. Buffet does it not seem a question of one’s character in that they shout about some oil company making a moral/legal profit over a friend who violated the financial laws and also turned on those who had less then her?

I know from your history that you have gone into board rooms and ripped CEOs for their behavior. You mix no bones about being a moral person and also follow the intent of the law. You have ripped them for not looking out for stockholders, employees and even the general public. I think that is a great way to conduct yourself both in the business sector.

Now Mr. Buffet I ask you this simple question of would you hire a new employee with a history even near that of Mr. Obama’s? I would appreciate hearing from you because at my level there is no way I could even think about giving Mr. Obama a second interview, let alone hiring him as President of the United States.

1 comment:

Anonymous said...

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Recently an insurance company nearly wind up....
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A bank is nearly bankrupt......filing chapter 11 protection.
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How it affect you? Did you buy insurance? Did you buy mini note or bonds?
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Who fault?
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They bailout trouble finance company, but they will not bail out your credit card bills…….Should they have use the bail out $$ to pump into all different industries instead ……You got no choice, and no point pointing finger but you can prevent similar things from happen again……
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Are you a partisan?
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Since the bailout already done, the question now is besides letting the economic back on track, what regulation should be done to prevent similar things from happen again…..

Eg.
The top management of the Public listed company ( belong to "public" ) monthly salary should be tied a portion of it to the shares price ( IPO or ave 5 years ).... so when the shares price drop, it don't just penalise the investors, but those who don't take well care of the company.....If this rule is pass on, without any need of further regulation, all industries ( as long as it is public listed ) will be self regulated......because the top management will be concern about their own pay check…… Instead of spending big money on hotel stay and luxury function……..Top management get monthly salary and director fee, while investor get dividends….
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Whenever anywhere, anytime, there is election campaign.....We can use this to question your candidate there….. if you agree on my point, please share with many people as possible.... Finance and Media are the two only industries can shaken politics ( Maybe Hackers can ), please help to highlight also...

Also recently some comments say that Respectable Mr Buffet had start buying, yes, he started buying with guarantee return of 10% annually….. Do we individual investor had the same offer…. If yes, I will definitely join in and buy……and the institution will definitely wouldn't short of money if they offer the same terms to the individual investors..... When ever in the history previously did Mr Buffet claimed that he bought shares.....

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Blog
http://remindmyselfinstock.blogspot.com/
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Facebook, come and join as a friend and share with your friends…..
Remind.myself@yahoo.com

Eg:
Just image, Institution lent out the shares already, in their hand, they don't have any stock or shares already, but Institution know that in the market, there are those individual investor who borrow the share going to sell the stock, so Institution naked short also, because there is no restriction on those Institution that those stock or shares that lend out, cannot be trade by the institution at that moment.