August 3,2009/4

I wrote some months ago, either on Forbes.com or in NYO, that no experienced private-sector financier would do a deal on the giveaway terms that Uncle Sam was negotiating on the taxpayers' behalf with the TARP suckfish. The disparity in returns earned by Buffett vs. the taxpayer appears to substantiate that assertion. For a more eloquent analysis, by Roger Ehrenburg, go here.