Thursday, August 27, 2009

Buffett Sees Poetic Justice

woes are justice designed

and sold, gone sour,

billionaire irony crashed

bearing much of the fallout.

It's sort of a little justice

the people that brewed

this toxic Kool-Aid found

themselves drinking a lot.

In the end the turmoil

rocked months, imbued dumb

money, of which

there was plenty.

*********************
this was my news headline poem, an erasure. Here's the article from which is was sifted -

Warren Buffet Says Bank Woes Are “Poetic Justice”

The woes in the U.S. financial sector are “poetic justice” for bankers who designed and sold complex investments that have since gone sour, billionaire investor Warren Buffett said. Speaking in Toronto, Buffett, one of the world's wealthiest people, appeared to see irony in the fact that many of the banks who marketed complex investments which have now crashed are bearing much of the fallout.

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,” said the CEO of Berkshire Hathaway. Buffet added played down worries about a credit crunch by saying that recent interest rate cuts mean low-cost funds are readily available. But he warned that the U.S. dollar will continue to slide unless the country can rein in its trade deficit -- the “biggest factor” behind the decline. Still, he said, the U.S. economy will “do very well over time.”

The billionaire investor also said the turmoil that has rocked the U.S. economy in recent months has imbued the markets with a healthy degree of caution but despite this, recent interest rate cuts mean low-cost funds are readily available. “I wouldn’t quite call it a credit crunch. Funds are available. What has happened is a re-pricing of risk and an unavailability of what I might call ‘dumb money,’ of which there was plenty around a year ago.”

8 comments:

Dave said...

Hey, I didn't know you had another blog! Good stuff.

SarahJane said...

i often forget it myself

gautami tripathy said...

Like it!

blowing over that mug of coffee

Derrick said...

Clever taking of the words. I have yet to try this found poetry style.

Paul Oakley said...

Interesting use of Jim-Jones toxic religion's Kool-Aid to portray the recent financial shenanigans. Fitting when our culture's prime god is the dollar.

Nathan said...

This is great! I love what you've done here.

Briarcat said...

I like this.
Thanks for showing how the technique works.

Wayne Pitchko said...

WOW....soooooo good...i love it...words could have come out of my old hookah..look forward to more of your words

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