One of the companies Warren Buffett has admired and put lot of his investing dollars into is Wells Fargo (NYSE:WFC). The prime reason beyond WFC being cheap that Buffett's building such a huge position in WFC is his appreciation for its management. Buffett has always admired Wells Fargo's management for its shareholder friendliness. Here is the video of Wells Fargo's Ex-CEO Richard Kovacevich reacting to the Fiscal Cliff deal. He explains in very layman terms the fiscal situation of the U.S. and if this fiscal deal has achieved something in reining in the deficit. His conclusion: "Nothing has been done." He said, "I'm stunned and shocked that basically, nothing has been done." He also said the current tax deal shows "our country is going to hell."
Credit and source: www.cnbc.com, CNBC
Here is the video:
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