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Warren Buffett offers directors of failed banks to deprive all property

Feb 16th, 2010 | By admin | Category: Main News

"We must make the general director of the bank, which collapsed or came under government control or that needed assistance, was completely destroyed from a financial point of view. Why should he feel better than a worker who was fired from General Motors?", -- said financial guru Warren Buffett told Fox Business Network. Director-General shall act as director of the risks, he added, so for the failure of a bank must meet all of its property and assets, even spouses. President Barack Obama is to include such a requirement in the package of financial sector reform, said Buffett.

He himself was for many years receives an annual salary of 100 thousand dollars, without any bonuses, are reminiscent "Vedomosti".

Buffett has supported Obama during the campaign. President of the United States, in particular, encouraged to limit the size and trading operations of financial companies to reduce risks. It is proposed to prohibit trade in equity finance companies that take deposits and can use them in risky operations in the markets.

Not all bank managers, suffered during the crisis, suffered financial losses. About Stanley #180, Neal, because of which Merrill Lynch has written off a total of 55.9 billion dollars, was dismissed in late 2007 with severance pay in $ 160 million. The general director of the rescued from the collapse of the UK government Royal Bank of Scotland, Fred Goodwin, resigned, but he assumed an annual pension of 693 thousand pounds (1.13 million dollars).

But the tax on banks, which last week suggested Obama to return the potential loss of 90 billion assistance program to financial institutions, Buffett is not supported. Tax is not oblozhat mortgage agencies Fannie Mae and Freddie Mac, which became one of the perpetrators of the mortgage crisis and were nationalized.

"Look at the damage that caused Fannie and Freddie, and yet they ran Congress," - said Buffett in an interview with Bloomberg, recalling that Congress refused to reform the mortgage agency, despite warnings that their activities and status can trigger crisis.

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