Warren Buffet On The Credit Crisis

'...you better not spend weeks and weeks and weeks trying to assign blame or deciding on a complete plan for fighting the whole war'

Decider: Admin

  • gork
  • Oct06 '08

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    5851 rads

    5851 rads

    #

Confidence in markets and in institutions, it's a lot like oxygen. When you have it, you don't even think about it. Indispensable. You can go years without thinking about it. When it's gone for five minutes, it's the only thing you think about.

Well said

  • Gethoht
  • Oct07 '08

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    1788 rads

    1788 rads

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While I respect the oracle of omaha for his amazing ability to make money from money, he has a clear interest in this bailout, especially since he's recently thrown billions into GS and GE. This is the same man that whole-heartedly admitted that he has no idea how CDO's, Mortage Backed Securities and other complex financial instruments work...

Long story short... i'd take any billionaire's statements with a grain of salt, especially because his change of heart is quite sudden and most likely linked to his fresh, high yield investments in GS and GE.

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