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IPFS News Link • Economy - Economics USA

BUFFETT: 'The Banks Will Not Get This Country In Trouble, I Guarantee It'

• Business Insider

“The banks will not get this country in trouble, I guarantee it,” Buffett, chairman and chief executive officer of Omaha, Nebraska-based Berkshire Hathaway Inc., said in a phone interview last week. “The capital ratios are huge, the excesses on the asset side have been largely cleared out.”

Lenders including Bank of America Corp. and Citigroup Inc. have sold assets, cut jobs and bolstered balance sheets after repaying taxpayer bailouts from 2008, when the companies were overwhelmed by losses on securities tied to the housing market. Those actions helped boost financial stocks last year and increased the value of Berkshire’s holdings.

1 Comments in Response to

Comment by Powell Gammill
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Whewwww!!!  Thanks.  For a moment I was worried.