Warren Buffett Reaps Crony Capitalist Billions from Gov Bank Bailouts
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“In terms of simple profitability, an average investor could have done just as well investing in the stock market if they bought during the panic period,” Buffett told the Journal on Saturday. “You make your best buys when people are overwhelmingly fearful.”
Of course the ordinary investor didn’t have the comfort of knowing that the Federal government would use taxpayer money to insure his deals.
As he admitted on CNBC at the time, “If I didn’t think the government was going to act, I wouldn’t be doing anything this week.”
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