Billionaire Warren Buffett knows a thing or two about money, and he’s giving a vote of confidence on the government’s handling of the economic crisis.
Buffett was speaking at a shareholder meeting for his company, Berkshire Hathaway, in Omaha, Nebraska. Buffett told the crowd of 35,000 that the U.S. is making the right moves.
Buffett said he believes the economic crisis has passed.
According to Buffett, “A lot of smart things were done then and I give great credit to the people who were working on the problem.”
He went on, “Getting in there and guaranteeing the commercial paper and the money market funds, it brought stability to the system and that has laid the framework for an improved economic situation. But that’s going to take time.”
Buffett also told reporters that he thinks corporations need proper incentives for success and severe disincentives for failure.
According to Buffett, the U.S. has tolerated too much immorality and stupidity among business executives.
kktv.com
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