This'n'That; April 17th[Pioneer;Goldman-Sachs;Buffett]

The American Pioneer
[I found this on a site which fielded comments on an editorial written by Stu Burguiere, Executive Producer, The Glenn Beck Program]

• The American Pioneer
• Two hundred years ago you walked across this land
• You held a small child by the hand.
• No one caught you when you fell,
• Or wept to see you fail.
• You broke the soil, and lifted up the grain,
• And left a trail to follow.
• You shouldered a forest to build a cabin,
• Log by Log by Log.
• You had it done by winter so you made it through the cold.
• When you lost your corn to Summer,
• And you lost your child to Fall,
• With no place to go for turning back
• You stood, and took it tall.
• Then another came, and then another,
• Strong like you, then more,
• To build a thousand cities
• Where no city stood before.
• You ached, and farmed the valley.
• You strained, and mined the hill.
• When hope died in your bosom,
• It hardened into will.
• You hammered a true nail.
• You drew a straight plan.
• You flew with the eagle.
• And you bowed to no man.

 by A. B. Curtiss  (from the poetry book "Dragons Guard the Zoo")

As one can tell by the poem above: Americans were a hearty group, no problem was too difficult.   The morals and ethics of the era were rarely spoken of, but adhered to reverently!! 

The "Clown Prince" vs Goldman-Sachs "Game"
Via The Reformed Blogger:

Now you're angry? Now you're outraged?

Here's how it will all end for those unfamiliar with the process:

• 1. Goldman will hire the best lawyers in the history of the universe, making OJ's Dream Team look like Ally McBeal.
• 2. They will make public statements about their "vigorous defense" while negotiating a settlement that will involve a large check and quite possibly the sacrifice of "Fabulous" Fabrice Tourre.
• 3. Upon the writing of this check, Goldman will admit no wrongdoing and the White House will claim victory.
• 4. Not one of you will be safer, more employed or in better shape as a result of any of this.
• 5. The lawyers and PR reps involved in the case will buy Maseratis and vacation homes. Lots of them.
• 6. Fabrice Tourre will be running his own hedge fund within 3 years.
• 7. Everyone connected to this case will still have more money in the bank, in real estate and in investments than you could ever dream of.
• 8. The sun will come up the next day, you will go to work, then pick up your kid at Karate, then pay the utility bill.

 That's it, folks. Let's not pretend otherwise.

 

How It Affects Buffett; Goldman-Sachs Big Supporter? 

    [Written by Vahan Janjigian, an editor at Forbes Magazine]   Goldman's executives seem to exist in a world of their own. They have little in common with the ordinary "man on the street." These are people who think nothing of getting paid several million dollars each year. No doubt, some of them think they are entitled to more. In comparison, Buffett is one of the most underpaid executives. He gets just $100,000 per year to run Berkshire Hathaway. Despite Goldman's excesses, I defended Buffett's investment in the bank. Buffett felt he was getting a great deal, so he took it.

   Over the years, Buffett has strongly criticized the investment banking industry. However, he has also made it clear that Goldman Sachs was the best of the lot. He often praised former Goldman executive Byron Trott. And during the recent financial crisis, Buffett invested $5 billion of Berkshire's money in Goldman Sachs preferred stock. Berkshire also received warrants to buy Goldman's common stock at $115 per share.

   Today, after the SEC made its announcement, shares of Goldman plunged 13% to close at just under $161 per share. Berkshire lost a ton of money on paper. Although its warrants are still well in the money, Buffett's armor looks at least a little bit less shiny.

Til Nex'Time....