The Guarantee Fairy

Warren Buffett Vouches For America’s Banks, Stops Just Short Of Pledging To Let Carl Quintanilla Shave His Head On CNBC If Proved Wrong

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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7 Responses to “Warren Buffett Vouches For America’s Banks, Stops Just Short Of Pledging To Let Carl Quintanilla Shave His Head On CNBC If Proved Wrong”

  1. CDO-Guy says:

    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. pazzo83 says:

    Capital…?

    – UBS MD

    • Guest says:

      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

  3. Edmond_Dantes says:

    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'

  4. sohbet says:

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

  5. sohbet says:

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

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