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Can Warren Buffet Save Us?
Part of what's been so hard about this whole credit crisis is that we're not hearing from any economic leaders about how to fix the problem—we're relying on the government (which is in ridiculous debt all on its own) to tell us how to deal with it.
Enter Warren Buffet. For years, he's been a voice of reason on investing, reminding us that sticking with things for the long-haul is preferable to short-sighted investing or selling. Earlier this week, he sat down with Charlie Rose and shared his thoughts on the Congressional bailout plan and what the American people are thinking and feeling.
Buffet believes Congress needs to quickly approve the plan and move forward. He compares our situation to Pearl Harbor, saying that each day we wait to enact a plan digs us deeper into the war. He says he has never seen people so fearful economically, and that we need to do what's necessary now to rebuild both credit and trust, two things the American economy can't live without.
Rose also asked Buffet point blank what he's prepared to do personally (as the richest man in America, it's a fair question.) Buffet says he's willing to help the government in terms of advising when he's asked to do so.
It's a long interview at 55 minutes, but worth a watch if you've got the hour to kill. Buffet is, as Rose says, a trusted voice in economics and really does break down what we're going through into understandable language. Watch and let us know what you think.