Warren Buffett is one of my favorite persons of money. I have always listened to him. He has more money than God and yet remains a humble man. He isn’t rolling his bucks over to his kids in great quanities either. I guess he thinks it will ruin them. He also knows he isn’t an economist, but he has certainly handled billions of dollars, quite well I might add.
Warren Buffett has written a letter to his country, Uncle Sam, about the crash of 2008 that we are still coming out of. Buffet understands the severity and Buffett isn’t second-guessing. In its entirety from the New York Times:
Omaha
DEAR Uncle Sam,
My mother told me to send thank-you notes promptly. I’ve been remiss.
Let me remind you why I’m writing. Just over two years ago, in September 2008, our country faced an economic meltdown. Fannie Mae and Freddie Mac, the pillars that supported our mortgage system, had been forced into conservatorship. Several of our largest commercial banks were teetering. One of Wall Street’s giant investment banks had gone bankrupt, and the remaining three were poised to follow. A.I.G., the world’s most famous insurer, was at death’s door.
