Author Topic: Supporting Berkshire and the Left?  (Read 1168 times)

Cardboard

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Dynamic

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Re: Supporting Berkshire and the Left?
« Reply #1 on: October 03, 2018, 09:12:03 AM »
To be fair to the rest of the American 'Left' this is Bernie Sanders, who I understand is at the left extreme of the Democratic Party, not all of them, and it's almost certain not to pass.

I hasten to add I have no skin in the game as a non American.
« Last Edit: October 03, 2018, 09:14:12 AM by Dynamic »

globalfinancepartners

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Re: Supporting Berkshire and the Left?
« Reply #2 on: October 03, 2018, 09:19:43 AM »
Hard to tell what specifically he means by reading the article alone.  Is it "too much" exposure based on a firm's total assets, market cap, something else?  I am guessing total assets but that is just a guess..

Dynamic

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Re: Supporting Berkshire and the Left?
« Reply #3 on: October 03, 2018, 09:20:55 AM »
True. Lehman's ultimate exposure was far in excess of their assets thanks to all those complex derivatives

John Hjorth

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Re: Supporting Berkshire and the Left?
« Reply #4 on: October 03, 2018, 09:35:29 AM »
Primary source: Bernie Sanders [October 3rd 2018]: Sanders, Sherman Introduce Legislation to Break Up Too Big to Fail Financial Institutions.

Links to Bill, summary etc. in lower part.

I don't see Berkshire mentioned in the documents [, but it may be embraced by this in case Bill passes]. As we all know, Berkshire did not get help under GFC. I haven't listened to Mr. Sanders' announcement [a 30 min. clip on FB].
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Jurgis

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Re: Supporting Berkshire and the Left?
« Reply #5 on: October 03, 2018, 09:39:14 AM »
I think that stress tests are good enough and break up is not needed. I don't think that's a good area to spend time for Sanders or Democratic Party. There are other more important things. But I'm sure there are people who think differently.

BTW, someone can remind me why AIG/etc are subject to stress tests and BRK is not. Isn't BRK (re)insurance arm bigger than these companies?
"Before you can be rich, you must be poor." - Nef Anyo

writser

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Re: Supporting Berkshire and the Left?
« Reply #6 on: October 03, 2018, 09:50:52 AM »
BTW, someone can remind me why AIG/etc are subject to stress tests and BRK is not. Isn't BRK (re)insurance arm bigger than these companies?

Because Buffett and Soros have been bankrolling the Illuminati who are controlling the fed behind the scenes.
When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid.

globalfinancepartners

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Re: Supporting Berkshire and the Left?
« Reply #7 on: October 03, 2018, 10:07:21 AM »
Beat me to it man...  Its so obvious

BTW, someone can remind me why AIG/etc are subject to stress tests and BRK is not. Isn't BRK (re)insurance arm bigger than these companies?

Because Buffett and Soros have been bankrolling the Illuminati who are controlling the fed behind the scenes.

Cigarbutt

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Re: Supporting Berkshire and the Left?
« Reply #8 on: October 03, 2018, 10:10:35 AM »
BTW, someone can remind me why AIG/etc are subject to stress tests and BRK is not. Isn't BRK (re)insurance arm bigger than these companies?
Because Buffett and Soros have been bankrolling the Illuminati who are controlling the fed behind the scenes.

BRK was "looked" at and had a pass.
There are supposedly objective criteria but "character" evaluation may weigh in the balance. The fact that BH was providing funds at a time when AIG needed some during stress is kind of a strong argument although the process is certainly less than transparent.
Diversification from diamonds to underwear may have been positive factor also.
Bank bailouts remain, to this day, difficult to reconcile with free markets and wonder if some people who still remember were somehow forgotten.
https://www.insurancejournal.com/news/national/2014/01/23/318114.htm
https://www.americanbanker.com/opinion/fsoc-is-too-political-to-be-taken-seriously
« Last Edit: October 03, 2018, 10:13:18 AM by Cigarbutt »

John Hjorth

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Re: Supporting Berkshire and the Left?
« Reply #9 on: October 03, 2018, 11:45:52 AM »
BRK was "looked" at and had a pass. ...
... https://www.insurancejournal.com/news/national/2014/01/23/318114.htm ...

Great one, Cigarbutt,

From the article:

Quote
...“On the other hand, when we use the basic definition of systemically important financial institutions, Berkshire I think fits that bill,” he said. ...

I picture the regulators then sitting scratching theirs heads, boiling the whole thing down to the fundamental question:

Q: "How do we regulate a rock?"
A: "We don't." [ : - ) ]
”In the race of excellence … there is no finish line.”
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai