Buffett sees ‘poetic justice’ in credit crunch

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Good morning. I’d like to think I’d be a fan of Warren Buffett even if he weren’t ridiculously rich. He has a way of laying it on the line that is rare in the upper reaches of corporate America.

News item from Reuters: ‘The woes in the U.S. financial sector are ‘poetic justice’ for bankers who designed and sold complex investments that have since gone sour, Buffett said on Wednesday.’

‘It’s sort of a little poetic justice, in that the people that brewed this toxic Kool-Aid found themselves drinking a lot of it in the end,’ he said.

Toxic Kool-Aid, that’s a good one.

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Photo credit: Reuters