Difficult times need wise men to tell difficult truths. And, for many years, Warren Buffett, the "Sage of Omaha," has done just that. For example, he was one of the first to sound the alarm about the danger of derivatives, warning in 2003 that they were "financial weapons of mass destruction" that could lead to a "corporate meltdown." So it was deeply distressing to watch his recent CNBC town hall meeting with a group of Columbia business students, followed the next night by an hour spent talking about the economy with Charlie Rose, and see Buffett joining in the economic victory lap the Obama administration -- and much of the media -- are taking.
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Wednesday, November 18, 2009
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