There is no person who has not heard of the name Berkshire Hathaway. It is one of the top-level conglomerate holding companies that oversee a number of subsidiary companies.

Though, the company has such a well-established reputation in the international market, the Warren Buffett, the company’s Chairman and CEO has used the "float" provided by Berkshire Hathaway's insurance operations to finance his investments.

Previously i. e. in the early part of his career at Berkshire, he focused on long-term investments in publicly quoted stocks, but seems like, his hypocrisy could not stand for long as his veiled plans of buying whole companies have been unmasked now.

Buffett along with Charlie Munger have left no stone unturned to pursue his questionable actions of the financial services industry.

This has followed David L. Sokol to resignation from his post of Chairman at the MidAmerican Energy Holdings Company, the organization whose 89.8% stakes are held by Berkshire Hathaway.

Sokol resigned from his post on March 28, 2011 and has stated in a statement that he does not wish to be the next Warren Buffet.

However, refuting the charges Buffett has alleged that Sokol asked him in mid-January on the idea of acquiring Lubrizol, disclosing at the time that he owned shares, but after Berkshire agreed to a deal in mid-March, Buffett learned that Sokol had bought his shares just weeks before his pitch.