Wednesday, October 1, 2008

Warren Buffett As Fear Monger...

Billionaire Warren Buffett said the U.S. economy is ``flat on the floor'' after a cardiac arrest as companies struggle to secure funding and unemployment increases.

``In my adult lifetime I don't think I've ever seen people as fearful, economically, as they are now,'' Buffett said today in an interview with Charlie Rose to be broadcast tonight on PBS. ``The economy is going to be getting worse for a while.''

Yeah, right.

How nervous is Buffett about the economy? Last week he made a $5 billion investment in Goldman Sachs. This week he made a $3 billion investment in General Electric.

As I have pointed out, he will most likely be the largest beneficiary of Paulson's $700 billion Plan.

-Robert Wenzel

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