Wall Street Lays An(other) Egg
Derived from Variety, October 30, 1929
It would be irrelevant to write only about term limits when the stock market is in free fall or in recovery, depending on when you receive this e-mail. We observe that irrational panic on Wall Street is no more sensible than the "irrational exuberance" that Alan Greenspan warned about in December 1996. That was long ago, but the phrase remains in people’s minds. But what did Greenspan do to prevent the sub-prime crisis that brewed while he was Chairman of the Federal Reserve? A minor result of the spiral of descent has been the diminution of Greenspan’s reputation for sagacity and foresight.
That leaves Warren Buffett, the Oracle of Omaha, the last iconic figure in the business world. He is a wise, generous and extremely modest man. He put shares of Berkshire Hathaway then worth over thirty billion dollars into a foundation named for Bill and Melinda Gates. Wikipedia says that was the largest charitable donation in history.