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Buffett: 'Financial Panic Is Behind Us'

He sounds optimistic note at Columbia University forum

By John Johnson,  Newser Staff

Posted Nov 12, 2009 9:14 PM CST

(Newser) – Warren Buffett says the worst is over. "The financial panic is behind us," he declared at Columbia University. The Berkshire Hathaway chief acknowledged that the US economy "still is sputtering some," but he sounded a bullish note on investment opportunities around the globe. While he gave "high marks" to Ben Bernanke and Timothy Geithner, he advised against future bailouts, reports Reuters. "More sticks are called for."

Buffett also shed more light on his huge purchase of Burlington railroad. "There will be more people in this country, 10, 20, 30 years from now," he said. "They'll be moving more and more goods back and forth to each other, and the most environmentally friendly and cost-efficient way of doing that is railroads."

Warren Buffett speaks while Bill Gates listens during a taping of a CNBC television special at Columbia University in New York on Thursday, Nov. 12, 2009.
Warren Buffett speaks while Bill Gates listens during a taping of a CNBC television special at Columbia University in New York on Thursday, Nov. 12, 2009.   (AP Photo/Jin Lee)
Berkshire Hathaway Chairman and CEO Warren Buffett.
Berkshire Hathaway Chairman and CEO Warren Buffett.   (AP Photo/Jin Lee)
Bill Gates, left, listens as Warren Buffett speaks during a taping of a CNBC television special at Columbia University in New York on Thursday, Nov. 12, 2009.
Bill Gates, left, listens as Warren Buffett speaks during a taping of a CNBC television special at Columbia University in New York on Thursday, Nov. 12, 2009.   (AP Photo/Jin Lee)
Berkshire Hathaway Chairman and CEO Warren Buffett.
Berkshire Hathaway Chairman and CEO Warren Buffett.   (AP Photo/Jin Lee)
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COMMENTS
Showing 3 of 7 comments
Observer
Nov 13, 2009 4:03 AM CST
Easy for a super rich 80 year old to say. What shit. Every small business owner I know is suffering.
DontLikeYou___
Nov 13, 2009 4:00 AM CST
well said
Netstorm2k10
Nov 13, 2009 4:00 AM CST
Very well put, mate.

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