The Us Government did the Right Thing at the Right Time, Warren Buffet
|
|
18 November 2010 | posted by: Charles Glover | No Comment
The economic bail out by the US government two years ago came in hardy in the prevention of economic crisis according to Warren Buffett. Buffett on Point in a Letter to the Media Were it not for the governments actions then most companies would have followed the path left by Lehmann Brothers bankruptcy in 2008, said the tycoon, in a letter posted in a News Medium. Most companies were in the bankruptcy line and the government did the right thing at the hour of need. He believed that the companies were to blame for under estimating some of the assets they had and by the government taking them and turning them around was a great thing in halting the economy from the blink of collapse. The US government and the Federal Reserve, he continued, took a great action while the Congress was busy going round circles in what should have been done in the hour of need. Image Credit: t |
Leave your response!