WARREN BUFFETT Quote : Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
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Wednesday, February 10, 2010

Warren Buffett U.S. needed tough medicine

NEW YORK (Reuters) - Former Treasury Secretary Henry Paulson and billionaire investor Warren Buffett, from different sides of the political spectrum, expressed support on Tuesday for the U.S. government's aggressive steps in 2008 to keep the nation's banks and economy from a complete meltdown.

The men were speaking before the annual meeting of the Greater Omaha Chamber of Commerce in Omaha, Nebraska, where Buffett's insurance and investment company Berkshire Hathaway Inc is based. CNBC simulcast their talk on its website.

Paulson and many other regulators have been faulted for letting Lehman Brothers Holdings Inc go bankrupt on September 15, 2008, a signal event in the global financial crisis and still by far the largest bankruptcy in U.S. history.

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