Sunday, March 01, 2009

Buffett's bailout headache:supports federal rescue efforts - even though they're squeezing his Clayton Homes housing finance business

Fortune reports:
Warren Buffett is no critic of federal aid to the financial system. But the Berkshire Hathaway chief says the government's decision to provide low-cost credit to troubled firms is taking a hefty toll on his Clayton Homes housing finance business.

Buffett has been outspoken in support of the measures policymakers have taken to stop the meltdown of credit markets and the collapse of major financial institutions. "Whatever the downsides may be," Buffett wrote in Saturday's annual letter to Berkshire shareholders, "strong and immediate action by government was essential last year if the financial system was to avoid a total breakdown."
Warren Buffett lobbied for TARP at your expense because it helped him financially.Who said government was fair or about justice? What a joke.