Buffett

Yes, it would be great if Buffett and Gates came back from China with commitments from some Chinese billionaires to give half their wealth to charity. But every news story I've read throws cold water on this idea -- by stressing the Chinese lack of philanthropic tendencies, their clannish desire to keep to money within a family, the sheer novelty of staggering wealth in a so-recently communitarian society; in other words subtly suggests, without directly saying so, that this is about as likely to happen as Hong Kong is to return to British rule.

Garry Trudeau this week did a series on an imagined confrontation between Buffett (the old new money) and hypothetical billionaire (the new new money) with Buffett trying moral suasion to convince the new new guy that a little charity wouldn't be such a bad thing. The result is hysterical because it so perfectly skewers the values of the new new money. Trudeau has come up with a fantastic term to describe one of the follies of the new new rich: "aging out"......... see following.

First strip

I thought the first photo was fake until it was confirmed, and I saw the glass of Cherry Coke. Whatever you're paying your publicist, Josh Brolin, it isn't enough. This second photo of a meeting between Steve Forbes, Jay-Z and Buffett is discouraging because Warren missed a major opportunity. Who is missing from this picture?

Best news I've seen for a long time: Buffett and Gates succeeded in cajoling 38 other donors to sign the giving pledge to give away half their wealth. See WSJ article about Giving Pledge list. It's long been noted that the richest people give away a much lower percentage of their money than people of modest means, and this is meant to serve as an example and correct that.