Meet Warren Buffett's daddy. (Flashback).

Warren Buffett, the legendary investor whose taste for hamburgers and life in Omaha, Nebraska gives him a reputation for Middle American eccentricity in the world of high finance, is just another colorless gray-pinstriper when compared with his father: Rep. Howard Buffett (R-NE), who half a century ago was perhaps the most radical and principled Republican member of Congress.

The Buffetts were pillars of Omaha. Howard Buffett was a stockbroker, "gentle and sweet-natured," in the words of Warren's biographer Roger Lowenstein. His politics, though, were to "the right of God" cracked one local banker.

Buffett was elected to Congress in 1942 with a pledge to keep FDR from "fasten[ing] the chains of political servitude around America's neck." He marked himself an oddball by returning a pay raise to the Treasury and by subjecting each piece of legislation to a simple test: "Will this add to, or subtract from, human liberty?"

Very few House bills passed Howard Buffett's test.

In four non-consecutive terms representing Omaha in the U.S. House of Representatives, the radical backbench Republican compiled an almost purely libertarian record. He opposed whatever New Deal alphabet-soup agencies and Fair Deal bureaucracies emerged from the black lagoon of the Potomac. As the historian Joseph Stromberg has written, "the only [current] member of Congress who bears comparison with Buffett is Ron Paul," the Texas Republican and courageous naysayer.

Buffett was also a strict isolationist, denouncing NATO, conscription, the Marshall Plan ("Operation Rathole"), and the incipient Cold War, which he believed would enchain Americans in "the shackles of regimentation and coercion ... in the name of stopping communism."

Foreign aid was a Buffett bugaboo. The story is told that as the family drove past the British Embassy late one night, Howard, seeing the lights still on, quipped, "They even stay up late to think of ways to get our money."