George Shultz

Wells Fargo CEO: “Blame the Staff”

Did Wells Fargo Management Know?  Should They Have?? [Editor’s Note:  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] Unh-unh. Wrong answer. When you get paid almost $20 million a year to manage banking behemoth Wells Fargo, you don’t get to say...
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The Bloom Comes Off Theranos’ Holmes: From Iconic Visionary to Tainted Flash in the Pan, in 2 Photos

The King Queen Has No Clothes (Other Than Black) “U.S. Probes Theranos Complaints” —Headline; The Wall Street Journal (Dec. 21, 2015) If you’re not familiar with blood testing start-up Theranos, here’s the Reader’s Digest version:  wunderkind founder Elizabeth Holmes drops out of Stanford at 19 years old, comes up with a revolutionary (and vastly cheaper)...
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Time for a “Do-Over” on The Crash of ’08

Prescription:  ‘Take 2 4 Aspirin’ Seeing as how the current approach doesn’t seem to be working out so well, I hereby propose a “do-over” in dealing with the aftermath of The Crash of ’08. Exactly what do I have in mind? Instead of: -Rewarding the perpetrators with bailouts; –Punishing savers with the double-barreled whammy of...
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The World’s Two Biggest Red Herrings

The Fannie and Freddie Sideshow What do you call two companies that have cumulatively lost tens of billions, are now wards of the state, and continue to receive multi-billion dollar government subsidies? If their names are “Fannie” and “Freddie,” the answer is:  the world’s two biggest red herrings. Or, if you prefer, a sideshow to...
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