Friday, September 26, 2008

Warren Buffett's dad and Ron Paul

Warren Buffett's dad was libertarian Congressman Howard Buffett, who believed in the same things Ron Paul did.

Here is the wikipedia article about him:

Howard Buffet

Howard Homan Buffett (August 13, 1903April 30, 1964) was an Omaha, Nebraska businessman and four-term Republican United States Representative.

Buffett attended public schools and graduated from the University of Nebraska in Lincoln, Nebraska in 1925. While a student, Buffett was a brother of the Alpha Sigma Phi Fraternity. Entering the investment business, Buffett also served on the Omaha board of education from 1939 to 1942. In 1942 he ran for the U.S. House of Representatives in the Nebraska district in which Omaha was located, winning the Republican nomination in the primary and then the subsequent general election; he was reelected twice. In 1948 he was again the Republican nominee for another term but was defeated for reelection; however he was again the Republican nominee for the office again in 1950 and won the office back. In 1952 Buffett decided against seeking another term and returned to his investment business Buffett-Falk & Co. in Omaha, in which he worked until shortly before his death.[1]

Buffett is remembered for his highly libertarian stance, having maintained a friendship with Murray Rothbard for a number of years. A vocal critic of the Truman Doctrine and the Korean War, speaking on the floor of Congress, he said of military interventionism that,

Even if it were desirable, America is not strong enough to police the world by military force. If that attempt is made, the blessings of liberty will be replaced by coercion and tyranny at home. Our Christian ideals cannot be exported to other lands by dollars and guns.[2]

Although his son Warren Buffett has criticized investing in gold feeling that investing in businesses does more social good, his father, Howard Buffett, was a proponent of the Gold Standard. [3]


Warren Buffett adopted a different set of beliefs from his father, and recently was criticized by Ron Paul for his advocacy of the government bailout plan for Wall Street:

Part 1:

Part 2:

1 comment:

smell the glove said...

very interesting and too bad. what that tells you is that in order to make money at a high level in the US you must play the game.