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Buffett says effects of crisis ‘far from over’
Frankfurt am Maine, May 21, 2008
Interfax - Warren Buffett, the world’s richest man and chief executive of conglomerate Berkshire Hathaway, on Monday said he thought the effects of the financial crisis were “far from over”, according to the Financial Times.
Mr Buffett was speaking at a press conference in Frankfurt, where he is meeting German family-owned businesses as part of a four-country tour of Europe.
“It is rippling - there are secondary and tertiary effects. I think the Wall Street crisis is mostly over although I don’t know. The [Federal Reserve] with its Bear Stearns rescue largely stopped that. But I don’t think we are half way or even a quarter of the way through the impact in the general economy,” he said.
The “Sage of Omaha” said the effects of the crisis were beginning to be felt not just by those who had behaved the “silliest” but also now by people “who did sound things”.
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Buffett says effects of crisis
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19 November 2007KASE mandated financial advisers for the placement of shares.
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5 December 2006Kazakhstan and World Bank sign memorandum on extractive industries
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