Warren Buffett on Bank Tax, Other Topics

From Clusterstock. Warren Buffett was on CNBC and had a few interesting things to say. On Obama's bank tax proposal:

• "I don't really understand the thinking behind the bank tax."
• Why not go after the members of Congress who let Fannie Mae and Freddie Mac fester?

A few other tidbits:

• On "Too Big To Fail": If a bank ever has to go to the Federal Government, the CEO and any CEO previous is wiped out. "I want the CEO's equation to be, if this place ever goes down, I'm busted!"
• If I could vote twice for Bernanke, I would. If he's not re-confirmed: "Tell me a day ahead of time so I can sell stocks"

Yes, Buffett is a major shareholder in Wells Fargo, but he makes a very good point. Wells needed no more capital but the government rammed billions in TARP down its throat, forced it to raise billions more in stock (diluting Buffett), charged them a pretty penny for it, and now Obama wants more? As I've mentioned before, that's excessive and the consumers will ultimately pay the price.