The very fact that a single human being can control $1,000,000,000 -- the net worth of a thousand mere millionaires -- is conclusive proof of the brokenness of the system. This stunt just adds insult to injury
Poverty is rampant. Wages are stagnating. Three quarters of Americans are now living paycheck to paycheck. The unemployment rate remains persistently high and inequality has hit Gilded Age levels. Much of this has been exacerbated by a housing crisis and mortgage fraud. Yet, in the face of such emergencies, one of the world’s richest men joined a mortgage lender that sold shady loans to brag about their collective wealth. That’s the obvious takeaway as Buffett runs to fawning news outlets to proudly proclaim that it wouldn’t faze him in the least to write a billion-dollar check.