Analysis of America's Economy - Part 2 of 2 - Warren Buffet | PowerOptions Web Log
According to the President, Congress, independent financial experts, and TV pundits, this week’s economic picture for the country is the worst seen since the Great Depression. It can be argued that Warren Buffet is the richest man in the United States, turning over his capital to the Bill and Melinda Gates Foundation for philanthropic purposes notwithstanding. Mr. Buffet made his fortune as CEO of Berkshire Hathaway (NYSE BRK A and BRK B), an insurance and holding company. During this week’s “Charlie Rose” TV interview, he says he is a “big fan” of former Goldman Sachs (GS) CEO turned U.S. Treasury Secretary, Hank Paulson. In explaining his recent decision to poor billions of his own funds into the now Goldman, Mr. Buffet pronounced the U.S. economy as sound. Evidence of how strongly Warren Buffet holds that belief is exemplified by his decision to acquire General Electric (GE) stock this week. Stock...
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