Warren Buffett, You Should Be Ashamed

His testimony on the meltdown is a PR disaster
By John Johnson,  Newser Staff
Posted Jun 3, 2010 1:08 PM CDT
Warren Buffett testifies before the Financial Crisis Inquiry Commission Wednesday.   (AP Photo/Mark Lennihan)
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(Newser) – Warren Buffett made a fool of himself on Capitol Hill yesterday, declares Felix Salmon. Forced to testify about the financial meltdown, he denied any culpability in the mess—never mind that he was the largest shareholder in Moody's. "From a PR point of view," writes Salmon at Reuters, "yesterday was arguably the single worst day of Buffett’s life." He has no desire to fix Moody's problems, only regrets that he didn't unload the stock sooner. "I don't think he's ever going to be able to live this one down."

At the Capitol Gains and Games blog, Edmund L. Andrews agrees. "I never thought I would ever say this, but Warren Buffett has turned into an evasive, disingenuous, bumbling buffoon," he writes. "Having basked for years in public adulation for his investment brilliance, Buffett suddenly acted as if he hadn’t the slightest idea about the goings on at Moody’s even though Berkshire Hathaway had been one of its biggest shareholders."

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