The Oracle of Omaha spoke with Bloomberg last week; here is a recap of his comments and observations:
- He doesn't think we will ever see a financial crisis like 2008 again.
- His exact quote on America's banks: "The banks will not get this country in trouble, I guarantee it. The capital ratios are huge, the excesses on the asset side have been largely cleared out."
- Buffett states that Berkshire owns a lot of shares in banks and he owns a lot of shares personally, as well.
- The biggest asset for the banks is their deposit base and that will drive their earnings.