Warren Buffett of Berkshire Hathaway Inc. (NYSE: BRK-A) just told CNBC that the bailout plan was "no panacea" but that it will help avoid a total disaster. Whether it will be a big help remains to be seen. He also said it still will be a while before the recession bottoms.
On the current fight between Citigroup Inc. (NYSE: C) and Wells Fargo(NYSE: WFC) over the buyout of Wachovia Corp. (NYSE: WB), Buffett saidthe Wells Fargo offer is a better deal for Wachovia holders.
Buffett also commented the he only owns two stocks personally in his own account:
- Berkshire Hathaway (BRK-A)
- Wells Fargo (NYSE: WFC)
We’ll see what the total bailout package does. Here is our own take on the bailout package which was just passed and isabout to be signed into law.
- Buffett on General Electric stake
- Buffett on helping AIG unit
- Buffett on Goldman Sachs Stake
- His last reported holdings
Jon C. Ogg
October 3, 2008