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Berkshire Hathaway’s longtime vice chairman, Charles Munger, passed away yesterday at age 99. This Forbes cover story from 1996, reveals just how transformational this sidekick was for Warren Buffett.
BG1035: Jobs, Growth, Freedom, and Fairness: WhyAmerica Needs a Flat Tax
Since after the great depression, and some people think it is overdue. it is necessary. it's what has to happen. and let me just give you a little bit of what's in it. the government wants to help troubled institutions fail responsibly. put another way, eliminate the "too big to fail" idea. let banks and financial institutions fail if they have to without taking the entire economy down with them. limit the types of risky investments that banks take. shed some light on derivative trades. create a consumer financial protection agency, and give investors more say in executive pay. i'm joined by...
We'll bring you more information the moment we have it. for a moment, a conversation in another big story we're following with robert lenzner of "forbes" magazine and christine romans. peter, i'm going to start with you. there is a legitimate, i think, argument against reform that says can the reformers understand this speed at which wall street innovates and it will reform -- will regulation somehow stifle or hobble innovation? >> well, if in the derivatives market we try to shoe horn everybody into standardized contracts, it surely will not only harm innovation but it will also harm the fi...
>> there's still a version in the senate. >> we don't know the details. they've got to do something about restricting leverage. more capital requirements f s everybody and we don't know what the details are. let's hope they are stiff enough to prevent a crisis again. >> that's why we're having this conversation and anybody that can like to can write in and tell me what you think about it on twitter or write your senator or congressman. thanks for joining us, peter morici, and robert lenzner, i appreciate it. we'll keep you updated on the other story we're following, the deepwater horizon, th...