Warren Buffett Endorses Barack Obama

by MissVA, Mon May 19, 2008 at 02:24:53 PM EST

Warren Buffett, the "Oracle of Omaha" (or "Sage of Omaha", take your pick), has endorsed Barack Obama for President.

''In Frankfurt, Germany, today, billionaire Warren Buffett announced his support for Senator Barack Obama for President of the United States.  He said that he offered support to both Senator Clinton and Senator Obama, but because it appeared that Obama would win the Democratic nomination, he is endorsing Senator Obama''.

"I will be very happy if he is elected President.  He is my choice." He said.

Although many of the super-rich choose to align themselves with Republicans, Buffett, head of Berkshire Hathaway, has been a supporter of Democrats.  He was one of Sen. John Kerry's economic advisors during his 2004 presidential run.

Buffett thinks the dollar will continue to weaken:

"I think that the US has followed and is following policies which will cause the US dollar to weaken over a long period of time," he said.

After voicing support for Obama, Buffett nonetheless noted the US economy had managed to do "awfully well" despite a depression, two world wars and many financial crises.

"They say in the stock market ... buy stock in a business that's so good that an idiot can run it because sooner or later one will," he added.

"Well, the United States is a little like that. We can take a little mis-management from time to time," Buffett said.

For those of you who don't know, and I doubt many people do, Warren Buffett has politics in his blood.  His father, Howard Buffett, was a four-term Republican congressman from Nebraska, serving from 1943-1949 and 1951-1953.  Howard Buffett, speaking presciently on the House floor, once said:

''Even if it were desirable, America is not strong enough to police the world by military force. If that attempt is made, the blessings of liberty will be replaced by coercion and tyranny at home. Our Christian ideals cannot be exported to other lands by dollars and guns''.

http://afp.google.com/article/ALeqM5iEoh 4tPLHPMMok875VIJDcq3FOKg

Update: Obama leads HRC by 16 points in the latest Gallup poll.
First time she has gone below 40%.

Update: Hillary Clinton's former campaign manager and confidante, Patti Solis Doyle is in 'talks' to join the Obama campaign.

Link: http://www.politico.com/news/stories/050 8/10450.html




Tags: Warren Buffett Endorses Obama (all tags)

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Solis Doyle (none / 0)

Keep her AWAY.


I'm riding the Low Road Express. Join me at www.lowroadexpress.com
by LtWorf on Mon May 19, 2008 at 02:29:55 PM EST

I wouldn't necessarily buy the party line. (none / 0)

That it's everyone but Hillary's fault, she lost. There are a lot of talented people in Hillaryland that could be an asset to Obama 08.

The fact is it isn't even Hillary's fault she lost, such thinking is buying into the preconceived notion that Hillary was inevitable, this was never the case. Obama won because he was the better candidate, the Democratic party will be led by a once in generation political savant whose meteoric rise came without any sacrifice of progressive principles.


by DSloth on Mon May 19, 2008 at 02:38:35 PM EST
[ Parent ]

Re: I wouldn't necessarily buy the party line. (none / 0)

I understand what you're saying, but I'm more troubled by the reports of her work habits to go with that feeling of "inevitability."


I'm riding the Low Road Express. Join me at www.lowroadexpress.com
by LtWorf on Mon May 19, 2008 at 02:43:06 PM EST
[ Parent ]

Re: Solis Doyle (none / 0)

I think it should be an easy call to not pick her up in a managerial capacity (both because the Obama team is pretty solid in that department and she's not exactly strongest there) but she may have some potential in the Latino community.

Hopefully this is a good sign of things to come as the Obama team starts the healing process in the party.


by werehippy on Mon May 19, 2008 at 03:31:30 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

Link on the Doyle part? I'm sure there's a lot of bad blood after she was let go, but I wouldn't have imagined she'd outright jump ship.


by werehippy on Mon May 19, 2008 at 02:31:20 PM EST

Re: Warren Buffett Endorses Barack Obama (none / 0)

Maybe she really likes Obama?


by Becky G on Mon May 19, 2008 at 02:32:28 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

I read the original article "Putsch in Hillaryland" which was about her ouster.

Sounded like a total nightmare to work for, especially if you're a woman.  I think everyone who's had a boss like that will know the type.


I'm voting for Saxby Chambliss!
by Jess81 on Mon May 19, 2008 at 02:34:06 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

This is the link.

http://www.politico.com/news/stories/050 8/10450.html

She could be uselful to bring in more Latino voters. Don't you think?


Obama/Warner 2008
by MissVA on Mon May 19, 2008 at 02:34:13 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

She can join the list of Obama's support among latinos with anglo names.

Population is currently two.


I'm voting for Saxby Chambliss!
by Jess81 on Mon May 19, 2008 at 02:46:08 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

Solis is an anglo last name?


by LakersFan on Mon May 19, 2008 at 02:51:13 PM EST
[ Parent ]

Anglo name? (none / 0)

Yeah, like Marco Antonio Solis one of the most popular singers in Mexico.


by hankg on Mon May 19, 2008 at 03:11:17 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

Martin and Charlie Sheen?

ducks


by BlueinColorado on Mon May 19, 2008 at 02:59:30 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

Their last name is Estevez.

But Solis really is a Latino last name. "Doyle" is her husband's family's name.


by LakersFan on Mon May 19, 2008 at 03:07:48 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

Could you add that link to the diary?


Join the Matthew 25 Network and help Democrats win the next generation of evangelicals.
by mistersite on Mon May 19, 2008 at 02:48:15 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

Updated.


Obama/Warner 2008
by MissVA on Mon May 19, 2008 at 02:53:19 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

Obama has picked up 4 superdelegates today (including Sen. Byrd) plus 4 add-ons for a total of 8 total.  He's over 300 superdelegates now.

Solis Doyle joining the Obama campaign?  Uh..... ?????


I'm voting for Saxby Chambliss!
by Jess81 on Mon May 19, 2008 at 02:32:44 PM EST

Re: Warren Buffett Endorses Barack Obama (none / 0)


Blah.  He's just some old white guy, what does he know?  I mean, maybe... MAYBE if he had some clue about economics or something I might think it was a worthwhile endorsement.

by neonplaque on Mon May 19, 2008 at 02:32:57 PM EST

Re: Warren Buffett Endorses Barack Obama (none / 0)

Yes, Buffet warned against the excesses of the Republican ponzi scheme that created a huge debt bubble. He is now cleaning up buying up the assets and businesses of companies that drank the Club For Growth kool aid at a steep discount.

He would have supported Hillary had she won. He had donated to both campaigns. He is just lining up behind the party's nominee.

Buffet is the ultimate example of the 'smart money' and every successful investor knows you should follow the smart money.


by hankg on Mon May 19, 2008 at 02:50:02 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

SEXIST!

/snark


by brettjay on Mon May 19, 2008 at 02:42:13 PM EST

Solis Doyle (none / 0)

I wouldn't call Patti talking to the Obama camp about having some role AFTER the nomination is in hand, as she stated, jumping ship.

I think you can look at more like a loyal Democrat wanting to help the Democratic nominee win in November.

Something we all should keep in mind.


Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof.
by jsfox on Mon May 19, 2008 at 02:46:37 PM EST

Re: Solis Doyle (none / 0)

I agree. If she wants to have a hand in the campaign then by all means they should let her. The problems with the Clinton campaign structure aggravated a host of situations that can't be laid directly at Solis-Doyle's feet, nor should they. I'm sure she has a wealth of experience and knowledge that a sturdy, well-run campaign structure like Obama's would be able to take full advantage of. I sincerely hope she does join, and finds herself in a job role that is a lot more fulfilling and enjoyable.


by upstate girl on Mon May 19, 2008 at 02:50:27 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

That's it.  I'm never buying Berkshire Hathaway stock again.


Join the Matthew 25 Network and help Democrats win the next generation of evangelicals.
by mistersite on Mon May 19, 2008 at 02:47:50 PM EST

Re: Warren Buffett Endorses Barack Obama (none / 0)

I'll take yours off your hands for fourteen bucks a share.

Cash.


by BlueinColorado on Mon May 19, 2008 at 03:00:24 PM EST
[ Parent ]

Lost in Translation? (2.00 / 2)

I'm wondering about the truth of this story. This is only appearing in the foreign AP and it seems that someone may have lost something in translation. My first clue was that the article called Buffett the "Sage of Omaha". My second clue is this more recent article from the AP (http://ap.google.com/article/ALeqM5ig5la B-Stxy-sAecnMSz-GTwh6wQD90OSFE01):

Buffett, who dubbed himself "a political bigamist," explained that he told both candidates that they would have his support when they were deciding to run for president. Buffett was in Frankfurt as part of a European tour to check out possible acquisitions for Omaha, Nebraska-based Berkshire Hathaway Inc., of which he is chairman and chief executive.

"I told both Hillary and Barack I'd support them, and I'd be equally happy if either of them were the nominee," he said. "Barack appears to have the nomination."

I assume we'll get some clarification about Buffett's position soon. But I'm pretty certain that he has not "endorsed" Obama for the nomination.


by LakersFan on Mon May 19, 2008 at 02:50:17 PM EST

Re: Lost in Translation? (none / 0)

He is my choice." He said.


by BlueinColorado on Mon May 19, 2008 at 03:01:19 PM EST
[ Parent ]

Re: Lost in Translation? (none / 0)

I don't think so. Go look at any of the U.S. reporting of this. I do not think Buffett said those words. I think a German reporter did not completely understand what he said.


by LakersFan on Mon May 19, 2008 at 03:03:11 PM EST
[ Parent ]

Re: Warren Buffett Endorses Barack Obama (none / 0)

The fat lady may not yet be singing, but it sure looks like she is walking on to the stage, clearing her throat...


by rf7777 on Mon May 19, 2008 at 02:52:58 PM EST


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