Buffett says wealth giveaway has been a long time coming

Buffett says wealth giveaway has been a long time coming - Jun. 26, 2006 (CNNMoney.com): "'The first three letters were easy to sign; I just signed 'Dad',' joked Buffett, while signing a letter pledging funds to his daughter Susan A. Buffett's foundation. 'I'm not sure a billion has ever been sent with a letter that says 'Dear Suze.' I wanted to make sure I never wrote one that started 'Dear Anna Nicole Smith',' quipped Buffett. "

Hey, Warren's funny.

This is good news - in the vein of Bill Gates' big announcement the other day.

When asked by Melinda Gates whether her husband had dropped hints to Buffett about making a gift to the Gates foundation, Buffett said that he and Gates have been in discussions about teaming up for philanthropy for about 10 years. [BTW, Gates and Buffet are bridge buddies, as well as good long-time friends. I'd like to be the fly on the wall for some of their conversations...]

Buffett called the decision "logical," saying he wanted to allocate his wealth to people he feels can do a better job of dispersing it than he can. He said he was impressed with the Gates' enthusiasm for the foundation and how the organization is run.

"I want people that are turned on about what they're doing. It just shouts at me, the enthusiasm that you people have for what you're doing," Buffett told the Gates. "You can't order $10 million worth of enthusiasm."

Is this a new breed of Capitalist? Wow. I hope this is contagious.