Sunday, May 01, 2005
"Out of their cotton-picking minds?"
Warren Buffett is a well known investment guru. His long time business partner and Vice Chairman, Charlie Munger, is less known to the public but also highly regarded in business circles. And what do they think of the Republican's Social Security proposals? From today's Bloomberg:
Buffett and Munger also told shareholders they oppose U.S. President George W. Bush's plan to allow privatization of Social Security because the government has a duty to take care of the country's elderly.
"The Republicans are out of their cotton-picking minds on this issue,'" said Munger, a self-described right-wing Republican. Social Security is "one of the most successful things that the government has ever done."