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AOC complains with Buffett that crisis administrators were rewarded but had to pay



Many [CEOs behind the financial crisis] still have influential roles in creating the economy today. But we are the crazy ones to treasure them, right? "


Rep. Alexandria Ocasio-Cortez

It is a snapshot of a Saturday competence from Rep. Alexandria Ocasio-Cortez, and it is not the first time, or probably the last, that the Democratic Congresswoman will cast out social influence in politics, executive compensation and where they cross. 1

9659004] With tweet, AOC stands with the US's third richest man: Warren Buffett – a card-carrying democrat born to a conservative congressman, he says – as earlier this month said CEOs would hit, not shareholders, when companies fail.

The Newman legislator, who considers himself a democratic socialist but becomes a socialist much of the time, was rediscovered a CNBC article capturing how Buffett told room for shareholders at his annual Berkshire Hathaway

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recalls that if a bank needs a state rescue, the managing director should lose his net worth .

Here is the full AOC tweet and article link:

Buffett answered a question about Wells Fargo

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– of which Berkshire is still a significant shareholder, despite a recent reduction – and its former former CEO John Stumpf (even the Stumpf replacement has since been replaced) . Stumpf was removed during a scandal over a thousand false accounts created by merchants to face high-pressure quotas.

The possibility of failure in one of his firms, or within Berkshire, has been one of his biggest dreads, Buffett being raised early May.

But Buffett said, "If a bank comes to where it needs public assistance, the responsible managing director should lose his net worth and his spouse's net worth."

When such a situation occurs, "it is the shareholders who pay," he added.

AOC's sympathies on Saturday continued: "It is still important that the CEOs who crashed our economy + led millions of people to lose their homes, not just escaped handcuffs but also received bonuses."

More than 1 , 2 million households were lost in the recession, according to a report by the Mortgage Bankers Association in 2010 looking at data between 2005 and 2008. The worst of the crisis expanded to 2009. [19659019]
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