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Wednesday, September 24, 2008

Buffett: Paulson Plan "Absolutely Necessary"

by Calculated Risk on 9/24/2008 09:07:00 AM

Warren Buffett was interviewed on CNBC this morning.

From Bloomberg: Buffett Calls Crisis an `Economic Pearl Harbor,' Backs Paulson

Billionaire investor Warren Buffett, calling the market turmoil ``an economic Pearl Harbor,'' said Treasury Secretary Henry Paulson's $700 billion proposal to prop up the U.S. financial system is ``absolutely necessary.''

``I am betting on the Congress doing the right thing for the American public and passing this bill,'' Buffett said.
On his investment in Goldman, Buffett said:
"If I didn't think the government was going to act I wouldn't have done anything."