House Republicans Want To Hand Warren Buffett Bigger Profits On Loans To Poor People

WASHINGTON — House Republicans are set to deliver a major favor to Warren Buffett next week, days after a devastating expose detailed consumer abuses in his corporate empire. And many Democrats seem willing to help the world’s third-richest person extract additional profit from the poor.

Buffett is the most dominant player in the mobile home business. As chairman and CEO of Berkshire Hathaway, he controls Clayton Homes, the largest U.S. mobile home manufacturer, as well as the two biggest mobile home lenders — 21st Mortgage Corp. and Vanderbilt Mortgage and Finance. Last week, The Seattle Times and The Center For Public Integrity reported that Buffett’s empire relies on predatory practices that trick and trap borrowers into taking on doomed, expensive loans.

Neither Berkshire nor Clayton responded to requests for comment for this article.

Read on.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s