A thank-you note for the federal government
Warren Buffet's thank-you letter for the 2008 bailout.
It pretty well sums up how I feel. It reminds me that Warren Buffet was, during that month, one of the few private investors still willing and able to express confidence in the market himself. He poured money into Goldman Sachs, I recall.
But when businesses and people worldwide race to get liquid, you are the only party with the resources to take the other side of the transaction. And when our citizens are losing trust by the hour in institutions they once revered, only you can restore calm.
Yes. That was it. I'll never know if it was the right thing to do or not, but I think they did a pretty good job, under the circumstances.
It pretty well sums up how I feel. It reminds me that Warren Buffet was, during that month, one of the few private investors still willing and able to express confidence in the market himself. He poured money into Goldman Sachs, I recall.
But when businesses and people worldwide race to get liquid, you are the only party with the resources to take the other side of the transaction. And when our citizens are losing trust by the hour in institutions they once revered, only you can restore calm.
Yes. That was it. I'll never know if it was the right thing to do or not, but I think they did a pretty good job, under the circumstances.