In his latest inteview on ABC News, available on YouTube from this link (unfortunately, ABC has disabled the embedding function), he has some interesting comments:
- "We're not a free fall but we're not in a recovery"
- "I have never seen it [a recession] quite happen like this"
- "I don't know where it's [the unemployment rate] going to go but it's got way to go. [...] 11% wouldn't surprise me."
- "The numbers I was seeing told me it's going to be very very tough year."
- "It [a stimulus] is not a panacea. If a stimulus is the right thing, you hope it doesn't get watered down in many ways. Our first stimulus plan [...] every body was putting things for their own constituents".
Q: "During his campaign, he [Obama] threw your name as a mentor and someone he turned to for advice. How often do you speak to him now ?"
A: "Not often [laughs]"
Q: "Does he call you?"
A: "Not often, no"
Q: Do you think looking back, TARP is needed? TARP was worth it?
A: I don't think it was done in a very sophisticated way but [helped restore some confidence, even if not efficiently]
Q: What do you think about the PPIP?
A: I do not like the idea of any kind of a plan [...] where Wall Street makes a lot of money. My plan provided they do not make any money whatsoever and where the American public would make the money. [...] Wall Street owes the American people one at this point.
- "We were in a free fall starting in the financial markets and then spreading into the economy."
[My comment: of course, the people collapsed under the weight of their debt and that lead to the financial collapse of the lenders. He doesn't get simple causality right...]
- "The best days of America by far lie ahead."
[My comment: the American Empire is following the Roman Empire.]
Here are the previous posts regarding Warren Buffett and Berkshire Hathaway: