10:09 AM
Warren Buffett Praises Government for U.S. Bail Out
Berkshire Hathaway Chairman Warren Buffett discusses his editorial in the New York Times Wednesday, which he calls a thank-you note to government for its response to the financial crisis.
In this video clip from CNBC, Buffet contends that in the few weeks after the Lehman Brothers failure, only the U.S. government had the power and capital to step in and stop the "dominos" from falling across the entire global economy. And he praises the bank bail out from stopping the economy from getting even worse.
Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio