Warren Buffett seems to thinks Bush et el did a good thing and probably saved the nation from a worse meltdown-
Quote:
Billionaire Warren Buffett wants people to know he thinks the U.S. government performed well during the economic meltdown of 2008.
So the chairman and CEO of Berkshire Hathaway Inc. wrote a thank-you note to "Uncle Sam" that the New York Times published Wednesday on its op-ed page.
Buffett used the opinion piece to reiterate his view that the government should be praised for its efforts to stabilize the economy with massive bailouts and stimulus spending.
Buffett said in the article that specific decisions will be questioned, but Uncle Sam's actions during the crisis were "remarkably effective." He said that Federal Reserve Chairman Ben Bernanke; Treasury secretaries Hank Paulson and Tim Geithner; FDIC Chairman Sheila Bair and former President George W. Bush all acted courageously to right the economy.
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I've been torn about the TARP program and whether or not it worked all that well. I do think it worked to some degree, I just question how much. I have gotten tried of the right blaming Obama for creating it when it was actually something Bush did on his way out the door. I also never liked how when the wall street CEO showed up then response was basically "how much do you need and when?" The when the CEO's from the auto industry showed up it was "How'd you guys get here?"
I've always respected Buffett but I'm not sure what to make of this move. Does he have other motives? Or is he just trying to point put not everything the government does is bad?
Thought?