A lot of people are going to be talking about this Warren Buffett NY Times Op-ed. Buffett writes a cutesie "Dear Uncle Sam," thank you note, commending the government for its great work managing the financial crisis.
"The challenge was huge, and many people thought you were not up to it.
Well, Uncle Sam, you delivered. People will second-guess your specific decisions; you can always count on that. But just as there is a fog of war, there is a fog of panic — and, overall, your actions were remarkably effective.
I don’t know precisely how you orchestrated these. But I did have a pretty good seat as events unfolded, and I would like to commend a few of your troops."
There's something about this I find flat out disgusting. Oh yeah - Buffett himself was far from an impartial bystander in this whole mess - being a massive beneficiary of the government's generosity and willingness to subvert the capital structure. He likely even shaped some of the programs himself (see: Warren Buffett Invented the PPIP?).
So, while Buffett gushes:
"So, again, Uncle Sam, thanks to you and your aides. Often you are wasteful, and sometimes you are bullying. On occasion, you are downright maddening. But in this extraordinary emergency, you came through..."
I'm thinking that I'd really like to hear from the 15% of Americans (17 million families!) who had trouble putting food on their table in 2009 or the 14.8 million unemployed people.
I don't really want to read Warren Buffett's thank you to the government for bailing out his investments.