Monday, September 08, 2008

Warren Buffett Approves Bailout of Freddie And Fannie

Posted on CNBC.

  • "I wouldn't change anything in the plan myself," Buffett said in an interview on CNBC. He said he expects this step will go a long way in calming the market and resolving the ambiguity surrounding the two companies.

    "It's best deal and the most sensible deal available now," he said. "Now, you can argue that there should have been some different rules put in decades ago, and it wouldn't have come to this."

    "If Bear Stearns was an 8.5 on the financial Richter scale, this was about a 9.9, or something of the sort," Buffett said. "The government really had no choice but to do something. And then the question is: did they do the most sensible thing, and they did do that." Buffett said.