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Keep in mind that Buffett also invested in Moody's, who made this mess possible by rating junk CDOs AAA. I agree that he's generally an ethical guy, but his inv
by Encosia 17y ago
Keep in mind that Buffett also invested in Moody's, who made this mess possible by rating junk CDOs AAA. I agree that he's generally an ethical guy, but his investment doesn't automatically confer absolvement.
- rdtsc 17y agoBuffet is one of the largest (if not the largest) Moody's investor. I can't speak to how "ethical" Buffett is, but what is apparent is his conflict of interest in this case. In general, I tend to have a problem with cult figures. Buffett has acquired a large following of worshipers who are willing to defend what he says or does based on lofty pronouncements such as "he is ethical" or "he has integrity" and so on. One thing is obvious, and that is he is one of the wealthiest and best businessman in the world. Whether he is ethical or has integrity is probably independent of the fact that he has acquired all this wealth.