Buffett: Economy Still in 'Shambles'
It'll take a while to 'wring out excesses'
By Ambreen Ali,  Newser User
Posted Jun 24, 2009 2:32 PM CDT
Warren Buffett speaks in Madrid.   (AP Photo/Paul White, file)
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(Newser) – The US economy is still in “shambles” even though the crisis in the financial system has abated, Warren Buffett told CNBC today. “It takes a while,” the investor said. “There were a lot of excesses to be wrung out and that process is still underway.” Inflation may become a problem, he predicts, but Wall Street will remain an attractive investment over the next decade.