Warren Buffet Testimony on Financial Crisis Released
Warren Buffet Testimony on Financial Crisis
Released
Among the audio files released Friday by the Financial Crisis Inquiry Commission (FCIC) was a May 26th interview with Warren Buffet, the billionaire chairman of Berkshire Hathaway. In his interview, Buffet commented that US taxpayers would always be liable for failures at the nation's largest companies. “You will always have institutions that are too big to fail, and sometimes they will fail,” the 80-year-old executive said. “We still have them now. We’ll have them after your commission report.”
The FCIC was formed after the 2008 collapse of the US financial system to determine the causes behind it. The panel interviewed hundreds of financial leader, regulators, and others in its quest to find ways to avoid similar crises in the future. The Dodd-Frank financial reform act, passed in July, was the Obama administration's first attempt at revising the system that led to the recession.
Buffet, who invested more than $5 billion into Goldman Sachs group at the height of the crisis, said he was betting on the success of federal intervention. He told the panel that he expected the government to step in to provide liquidity to the market as needed.
Among the audio files released Friday by the Financial Crisis Inquiry Commission (FCIC) was a May 26th interview with Warren Buffet, the billionaire chairman of Berkshire Hathaway. In his interview, Buffet commented that US taxpayers would always be liable for failures at the nation's largest companies. “You will always have institutions that are too big to fail, and sometimes they will fail,” the 80-year-old executive said. “We still have them now. We’ll have them after your commission report.”
The FCIC was formed after the 2008 collapse of the US financial system to determine the causes behind it. The panel interviewed hundreds of financial leader, regulators, and others in its quest to find ways to avoid similar crises in the future. The Dodd-Frank financial reform act, passed in July, was the Obama administration's first attempt at revising the system that led to the recession.
Buffet, who invested more than $5 billion into Goldman Sachs group at the height of the crisis, said he was betting on the success of federal intervention. He told the panel that he expected the government to step in to provide liquidity to the market as needed.
Comments
Top Stories
Latest DT's
-
1 month ago by Geno -
1 month ago by dallaseste
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by Geno
-
2 months ago by dallaseste
Top Authors
Subscribe
Games
Alias
3 Foot Ninja 2
ALIAS 2
Air Dodge
Battle Tanks
Bomber Bob
Cable Capers
Gem Mania
Hacker
Hostile Skies
Mission Mars
Bowling
Samurai Warrior
The Pharoh's Tomb
Monkey Lander
Muay Thai
Action
Donkey Kong Banana Barrage
501 Dart Challenge
Rooftop Skater
Zelda
Donkey Kong
Xtreme Pinball
Tetris
Connect 4
Battleships
Frogger
Penguin Push
Online Video Poker
Spank The Monkey
Mob Pay Back
Dealer
Yeti Sports Seal Bounce
Hold Your Drink Steady
Solitaire
Canyon Glider
3D Sudoku
Metal Slug Rampage
Street Fighter II
Flashman
Disc Golf
Table Tennis
Ninja Air Combat
Celebrity Hitman Terrorist Alert
Spider Solitaire
Tubin
Presidential Knockout
Global Player
Ma Balls
Baseball
Beckham Fit
0 Comments
Click here to sign up now.