I am having a really, really hard time with this.
The Presidential Medal of Freedom is an award bestowed by the President of the United States and is—along with the comparable Congressional Gold Medal bestowed by an act of U.S. Congress—the highest civilian award in the United States. It recognizes those individuals who have made “an especially meritorious contribution to the security or national interests of the United States, world peace, cultural or other significant public or private endeavors.” The award is not limited to U.S. citizens and, while it is a civilian award, it can also be awarded to military personnel and worn on the uniform.
Making a zillion dollars is comparable to the Congressional Medal of Honor?
Barack Obama awards the Medal of Freedom to Warren Buffett because Buffett made zillions of dollars and didn’t spread it around.
Obama described billionaire Buffett “not only as one of the world’s richest men but also one of the most admired and respected” who had “demonstrated that integrity isn’t just a good trait, it is good for business.”
Buffett, chairman of Berkshire Hathaway Inc, unexpectedly announced in 2006 that he would give away the bulk of his fortune. He has been one of Obama’s strongest defenders in the business community.
OK so I’ve had three martinis and a glass of sauvignon blanc, but f**k me.
“Yo, Warren- if I give you this award, one day I will be counting on you to ‘pay your fair share,’ if you catch my drift.”
Hold that thought.
US President Barack Obama on Monday reached out to respected business figures Warren Buffett and Ford chief Alan Mulally as he frames a major new plan on jobs and the deficit.
Obama made the calls from his rented vacation farm house on the well-heeled resort island of Martha’s Vineyard off Massachusetts, deputy White House press secretary Josh Earnest said.
The president often cites billionaire Berkshire Hathaway chief Buffett as an example of the well-off category of American who would not mind paying higher taxes to benefit the rest of the country.
“The president and Mr Buffett discussed the overall outlook on the economy and the reaction to the headwinds we’ve experienced over the last couple of months,” Earnest said.
“They talked a little bit about some possible measures that would spur investment and increase economic growth. And they also talked about some measures that could address the long-term fiscal situation in this country.”
Obama and Mulally discussed the auto and manufacturing industries and expanding growth, stimulating exports and investment, Earnest said.
“How are the kids, Barack? Break 80 yet?”
“Broke par yesterday. Remember that Medal of Honor thing? Would you mind saving Bank of America?”
“Sure, no problem. How much do you need?”
“About $5 billion. I bet you could score some boku bucks if you bought some futures first.”
“Sounds like a plan.”
August 25, 2011 9:42 AM:
Warren Buffett’s Berkshire Hathaway will invest $5 billion in Bank of America, stepping in to shore up the company in the same way he helped prop up Goldman Sachs during the financial crisis.
Bank of America [BAC 7.65 0.66 (+9.44%) ] shares jumped as high as $8.80 in Thursday trading before dropping later in the day. Shares rose 9.44 percent to close at $7.65 on Thursday.
“How about a fundraiser, Warren? You could tell everyone that you think you should be paying more in taxes.”
August 25, 2011 11:41 AM
Billionaire Warren Buffett plans to hold a Sept. 30 fundraiser in New York City to benefit President Barack Obama’s re-election bid, according to two Democratic officials not authorized to speak publicly about the event.
The fundraiser, reported earlier by the New York Post, will also feature former Obama economic adviser Austan Goolsbee.
Obama, who is preparing for a post-Labor Day speech about his plans for stimulating the economy, spoke with Buffett Aug. 22 by phone from his vacation on Martha’s Vineyard as he works to gather ideas on how to boost job creation and spur growth.
The chairman and chief executive officer of Berkshire Hathaway Inc. (BRK/A) has been a longtime Obama supporter. He hosted an August 2007 fundraiser in Omaha, Nebraska, for Obama and has served as an informal economic adviser.
“Informal advisor” >wink, wink<
Once again, $38,500 a ticket:
Following reports that President Obama phoned Warren Buffett from vacation in Martha’s Vineyard to discuss the economy, The “Oracle of Omaha” is hosting a fund-raiser for Obama’s re-election, billed as an “economic forum,” Page Six has learned. Tickets for the event at New York’s Four Seasons restaurant on Sept. 30 start at $10,000 a head, with VIP tickets a budget-boosting $35,800. Guests get an hour of “Q&A moderated by one of President Obama’s closest economic advisors, Austan Goolsbee.” VIP ticket-holders get a “private reception for about 20 minutes prior to the dinner.” A blurb with the invite adds, “As all guests are seated for dinner, Buffett will go around to all tables and shake hands, then he and Austan will sit for the program and discussion.” What will be discussed is Buffett’s recent highly publicized claim that the wealthy should pay higher taxes. But as one invitee sniffed, “Nothing like advocating tax equality when you are charging $35,800 a ticket.”
“Warren, I think this is going to be really good for you.”
“That’s great news, Barack.”
August 25, 2011 9:15 PM
Warren Buffett makes $280m profit on Bank of America stake in just 24 hours
The billionaire investor bought $5bn of preferred stock with 700m warrants that convert into 7pc of the bank’s shares, sending them up an initial 25pc to $8.80. They fell back to $7.67 in mid-afternoon trading, up almost 10pc on Wednesday’s close.
Mr Buffett’s move put some market confidence behind the bank after the hammering given to the shares in recent weeks on talk that it was short of $50bn to $200bn of capital. The bank has been hit by rumours that it may be forced to make massive writedowns on its housing debts and government bonds as well as the possibility it could haemorrhage even bigger legal bills for its mortgage liabilities.
But Mr Buffett, who made $4.5bn in profit from a similar move investing in Goldman Sachs at the height of the financial crisis, said he was impressed by Bank of America’s “profit-generating” capabilities. He added he had contacted the bank’s beleaguered chief executive Brian Moynihan on Wednesday morning proposing the deal, saying: “Bank of America is a strong, well-led company Brian… I wanted to invest in it.” The shares closed up 11pc on Wednesday.
Like I said, f**k me.