Wednesday, September 24, 2008

Warren Buffett for President

Warren Buffet was interviewed for at least 25 minutes on CNBC this morning and after going over the rationale of his Goldman Sachs investment, was questioned at length about the Fed rescue plan. I know this won't happen but I wish that NBC would run the interview in prime time tonight, or in place of the national news.

Buffett is more fully behind the plan than most. The highlights as I saw it:
  • The U.S. financial system was scarily close to melt down last week
  • Every U.S. taxpayer will be on the hook if we do melt down
  • The plan is the right one and has to be approved
  • Paulson is the perfect guy for the job
  • The Fed can actually make money on the workout if they do it right
  • If he could borrow $700 million he'd consider doing it himself

Here's hoping.

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