Thursday, December 08, 2011

Payback M*#*erF$#(R!!

 The Wall Street Urinal attempted to kill two birds with a single stone today in article questioning the privilege granted to certain large investors to delay publication of 13F-HRs and 13D filings with the SEC. They specifically target Warren Buffet's Berkshire Hathaway who of course has to file at the same time as everyone but who, along with a handful of others, have been granted delay in publicly releasing the filings.

I am agnostic on Mr Buffet generally though I have taken shots at him before. And I prefer more transparency, than less. So I shouldn't be bothered by the article. Yet, I AM amused and irritated for I cannot help but wonder what is behind the new-found populist editorial line of the WSJ. I reckon its two-fold: first it is payback for Mr Buffet's Benedict Arnold routine visa-vis the Capitalist Class in regards to his expressed opinions on top-end marginal tax rates in general and the level of estate tax in particular. Payback is indeed a bitch.  Second, I think, like Fox news has found, selective populism pays and sells - particularly the kind that panders to the generalized rage against a rigged system, evidenced first and foremost by, yes, you guessed it WB's Berkshire Hathaway, that renegade anti-pillar of the little guy.

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