It is fascinating to watch the re-arrangement of the power levers in American business as the credit squeeze separates those who have been wise stewards of capital from those who have been foolish - and transfers decisions into the hands of the wise. Who says capitalism is not working? A handful of institutions and individuals such as Jamie Dimon of J. P. Morgan are emerging as controlling players and foremost among them is Warren Buffett.
The Wall Street Journal report posted below tells the story of Buffett’s new role as …


