Wow, these are some pretty huge statements out of one of the most respected American business men, Warren Buffett. He claims the worst is over and there will not be a double dip recession. Pretty bold considering we still don’t know the affects of the Commercial Real Estate bubble bursting. But, hey, he knows more than me and has much better information coming into him!
I thought these comments were interesting:
Buffett also heaped praise on federal officials who last year engineered the $700 billion bailout of the nation’s banking system. Calling them heroes, Buffett specifically referred to Bernanke, former Treasury Secretary Henry Paulson and current Treasury Secretary Timothy Geithner, who at the time was president of the New York Federal Reserve Bank.
There are those who will quibble over whether certain things couldn’t have been done differently, Buffett said. “But at the time I called it an economic Pearl Harbor and in the end we got through Pearl Harbor. And it could have turned out a lot differently.”
You can read the rest of this story at: http://www.dailyfinance.com/2009/09/16/warren-buffett-says-economy-has-bottomed-out/
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