Buffett corrected
Buffett corrected

The Big Picture corrects Warren Buffett’s NY Times OpEd

I suddenly recalled who it was who allowed the banks to run wild in the first place: You. Your behavior before, during and after the crisis was the epitome of a corrupt and irresponsible government. You rewarded incompetency, created moral hazard, punished the prudent, and engaged in the single biggest transfer of wealth from the citizenry of the United States to the Wall Street insiders who created the mess in the first place.

Read the whole thing. This is coming to a paper near you:

hat tip FTAlphaville.



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