Warren Buffett and Charlie Munger
Warren Buffett is known as the 2nd richest man in the world, with a fortune according to Forbes of 90.3 billion USD, behind Amazon CEO Jeff Bezos.
Everyone knows this investor as the Nebraska Horoscope, for his precise predictions and vision to the future that characterizes him. He and his friend Charlie Munger founded a globally recognized holding company: Berkshire Hathaway Inc.
This company was previously engaged in the textile sector until Warren Buffett in 1962 bought the company.
It was then that he began his expansion in several fields, specifically in the insurance, reinsurance and other investments industry. In addition Buffett began to buy shares of several recognized companies like Coca-Cola. However, these purchases were normal views for people.
Until Buffett and Munger bought the majority of the shares of Wells Fargo, a bank based in the state of California. Through this bank they blatantly stole millions of Americans who had accounts in it.
But...what was the theft?
Before the 2008 crisis, banks developed a model of enrichment through mortgages, much remembered as subprime mortgages where Wells Fargo amassed a large fortune and its largest shareholders filled their pockets with a lot of money.
When the bubble burst the banks are rescued and their damage to society was not punished; of course, Wells Fargo got its way until in 2016 the Office for Consumer Financial Protection discovered that the bank created more than 3.5 million false accounts to obtain benefits.
This fraud caused the authorities to force the bank to stop its activities and pay for the damages caused. A fine that for Warren Buffett and Charlie Munger is nothing, since they were close to 200 million dollars.
And as always those affected...The ordinary citizen, the one who pays for the broken dishes and suffers the consequences
By the cessation of operations millions of citizens lost their money, seized their cars and lost their business so that simply two parasites would become richer. And the worst of all is that Wells Fargo promised its users that they would return their money ... something that never happened.
Before leaving the Federal Reserve, Janet Yellen pressed even more to the authorities and maintained her position in the Wells Fargo case, which did not seem fair to Buffett and Munger who asked that they cease the sanctions and resume operations.
All this problem that cost the money to millions of Americans in order to achieve sales goals and receive bonuses to fill the pockets of two economic parasites that steal money and exert a monopoly worldwide.
Unlike other investors, Warren Buffett finances established companies that dominate their market and leave no room for other companies. Buffett has Wall Street in his hands and his tentacles press the Government. And as if that were not enough, destroy the Bitcoin for fear of seeing its entire empire of fraud and dirty money fall.