Thursday, January 10, 2013

How can one disagree with Buffett?

Warren Buffett is quoted as saying, "The banks will not get this country in trouble, I guarantee it.”  This seems like a real stretch.  At the time of the financial crisis Buffett put his money where his mouth is now and bought into Wells Fargo, BofA, Goldman Sachs.  If he sold now, he would make a bundle.  Would he really put money into them now?  I don't see where there is much protection from the banks repeating their practices that got us into trouble, particularly when none of them went to jail for their actions.

No comments: