Trump Impeached a Second Time [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] Of all the desecrations committed by President Donald J. Trump or his followers the last 4+ years,...Read More
“Basically, It’s Over: A Parable About How One Nation Came to Financial Ruin.” –Charles Munger; Slate (2/19/2010) “The Fat Lady Has Sung.” –Thomas L. Friedman; The New York Times (2/20/2010) Anyone else note the eerily similar notes struck by Thomas Friedman and Charles Munger? If you didn’t know, Munger is Warren Buffett’s long-time right-hand man...Read More
Too Big to Fail? Try, Too Complex to Reform Banks are like the heart that pumps blood ” credit ” to our country’s corporate muscles. If that heart is malfunctioning, any recovery will be anemic. But heart surgery is a very complex thing. You wouldn’t want yours done by a plumber or a politician. –Thomas...Read More
“It’s a Wonderful (Corporate) Life” . . . Not Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically. –Nassim Nicholas Taleb, “How Bank Bonuses Let Us All Down” (2/24/09)G.M. has become a giant wealth-destruction machine ” possibly the biggest in history. –Thomas Friedman, “Start Up...Read More
Friedman’s Prescription: ‘Painful and Quick’ ActionAdd Tom Friedman to the very short list of commentators who: a) understand what just happened in — and to — the global financial system; and b) actually have some sort of coherent proposal about what to do about it. According to Friedman, we have just witnessed a “nuclear financial...Read More
