Warren Buffett, Obama, The Banks, And You
Warren Buffett, the CEO of Berkshire Hathaway on Fox Business News today said that he does not agree with Obama’s New Proposed Regulations on Banks placing Government Regulations on risk. He said that he felt it was the individual’s CEO’s and even their wives responsibility to manage risk.
He said that if there are failures, that the CEO’s should have to pay for failing to manage those risks. He also went on to say that by implementing such regulations, there there are often unintended consequences.
And those consequences may already be happening as Banking stocks have tanked today and JP. Morgan and others may be getting rid of their banking divisions.