Warren Buffett thanks Uncle Sam

[Pass Lake]

Warren says the U.S. faced economic meltdown in Sept. 2008.  Freddie and Fannie were forced into conservatorship.  Our largest commercial banks were teetering.  One investment bank went under and the other 3 were poised to follow.  The world's largest insurer was at death's door.  Our largest industrial companies were exhausting their cash resources.  Corporations were ready to topple at lightning speed.  Only one counterforce was available-Uncle Sam.  He says that although government is clumsy and often inept, it was the only party with the resources to act and it needed to act quickly to restore calm.  Warren says that Uncle Sam delivered.  People may second guess specific decisions, but as in the fog of war there is a fog of panic- and overall the government's actions were remarkably effective.  And the world would look far different now if the U.S. government had not acted.

[FourBee]

Well; maybe so, but I've heard other opinions on that subject.

[Stillkickin]

I'll not be standing in line to heap accolades on the very politicians who forced the lending institutions to make loans to people who, from the beginning, would never be able to pay them back.  Instead of being given awards, Barnie Frank and cohorts should be skewered for causing the problem in the first place.

[blind ear]

both parties set up the fall of the sysetm and both parties pushed the bail out through. Buffett was thankfull because the banks  where he has his money saved or invested, were saved. Yea banks, yea politicians.

[Tommyt]

. Buffett  was thankfull because the banks  where he has his money saved or invested, were saved. Yea banks, yea politicians.

I agree
He as others made good money buying at the bottom
 IMHO


Tommyt

[myronman3]

i bet warren is thanking them!   i would be really curious how big his slice of the pie was.  just another crook that should be hanging by his neck from a streetlight somewhere with the rest of the maggots that have infested our government.