Warren Buffett, the billionaire investor who oversees stakes in some of the largest U.S. banks, said the nation’s lenders have rebuilt capital to the point where they no longer pose a threat to the economy. “The banks will not get this country in trouble, I guarantee it,” Buffett, chairman and chief executive officer of Omaha, Nebraska-based Berkshire Hathaway, said in a phone interview last week. “The capital ratios are huge, the excesses on the asset side have been largely cleared out.” […] Buffett’s firm has investments in at least four of the seven biggest U.S. lenders by assets, including a stake of more than $14 billion in San Francisco-based Wells Fargo, $5 billion in Bank of America and warrants that allow it to buy $5 billion of Goldman Sachs Group Inc. shares. Berkshire also has a holding in U.S. Bancorp. “Our banking system is in the best shape in recent memory,” Buffett said. [Bloomberg]

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Comments (7)

  1. Posted by CDO-Guy | January 10, 2013 at 11:28 AM

    Hmmmm… Methinks Mr. Buffet didn't read that Atlantic piece too closely. Of course, if I owned a lot of bank risk, I'd be shouting from the mountaintop about the banks have never been better!

  2. Posted by pazzo83 | January 10, 2013 at 11:34 AM

    Capital…?

    – UBS MD

  3. Posted by Guest | January 10, 2013 at 12:34 PM

    Buffett says banks have a lot of capital
    Buffett owns a big stake in WFC
    WFC is in California
    The 'Capital' of CA is Sacramento
    Sacramento is losing the Kings
    Kings go with Queens
    England has a Queen
    Pippa Middelton lives in England
    Pippa has a nice ass
    Buffett is telling us to go to Beamers!

    – UBS Head of Equity Research

  4. Posted by Edmond_Dantes | January 10, 2013 at 12:57 PM

    The problem with Buffet is he – admittedly – hates competition. By owning large stakes in 4 of the 7 biggest banks, Shaw Industries (20% of US home improvement biz), BNSF Railway (1 of 3 railroads in America)…He makes monopolists like Carlos Slim and Li Ka Shing look like pikers…
    The quote should read: 'MY banking system is in the best shape in recent memory'

  5. Posted by sohbet | May 12, 2013 at 6:27 PM

    telling these little stories, here's a good idea: Have a point. It makes it so much more interesting for the listener.

  6. Posted by sohbet | July 8, 2013 at 9:25 PM

    officers to investigate Blackstone's fishy financial transactions, but they wound up giving them

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