Buffett: Europe’s Banks Shouldn’t Look to Berkshire |
| Bloomberg - Sep 30, 2011 |
Berkshire Hathaway Inc. (BRK/A)’s Warren Buffett, who has sold most of the company’s holdings in European sovereign debt, said his firm isn’t interested in helping to bail out lenders on the continent.
“They need capital in their banks, in many of their banks,” Buffett, Berkshire’s chairman and chief executive officer, told Bloomberg Television’s Betty Liu today on the floor of the New York Stock Exchange. “We would not be a good prospect,” he said, adding that Berkshire has received “very, very few” calls about putting capital into European banks. “Not quite none at all,” he said, declining to name any firms.
Berkshire sold most of its European sovereign holdings about a year and a half ago, the billionaire said today on CNBC. A German reinsurance unit still holds some bonds from that nation, and Berkshire is “fine” with the investment, he said. As for the U.S. economy, Europe’s debt crisis is bound to have some fallout, he said. Still, the impact on the U.S. will be nothing like the 2008 credit crisis, Buffett said on CNN, and the domestic economy is still growing, he told interviewers.
Read Full Article from Bloomberg
- Posted: 2011-09-30 11:36:51
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
