Charles Munger, the billionaire vice chairman of Berkshire Hathaway, defended the U.S. financial-company rescues of 2008 and told students that people in economic distress should “suck it in and cope.” “You should thank God” for bank bailouts, Munger said in a discussion at the University of Michigan on Sept. 14, according to a video posted on the Internet. “Now, if you talk about bailouts for everybody else, there comes a place where if you just start bailing out all the individuals instead of telling them to adapt, the culture dies.” [Bloomberg]
thank god
Warren Buffett’s Main Man Says Give It Up For The Bailouts, Advises People Who’ve Fall On Hard Times To Stuff It
By Bess Levin
What's the deal with all this oil?
Finally!
Chairman Carl-Henric Svanberg told Sky News Friday the oil major remains on track to carry out a June 4 plan to set up a new stand-alone unit to handle the Gulf of Mexico oil spill response operation under Bob Dudley, who currently serves as managing director for the company. BP CEO Tony Hayward announced the plan two weeks ago. Svanberg told Sky News that Hayward “is now handing over the operation to Bob Dudley” after leading the critical operation for eight weeks.
What should he do with all this new and richly deserved time? Other than work on his sets for next week’s open mic night at the Laugh Factory of course. [MarketWatch]
Yesterday we mentioned the harrowing, life-shattering news that Bloomberg had removed the function that allowed you to see how many people were clicking your profile, and checking your shit out, as confirmed by a Help Desk representative. Today, it’s back. Not that we’re not thrilled for those you who enjoy the idea of people watching you, but we’re just wondering why the sudden about face?
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
