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Warren Buffett Guarantees That the Banks Will Not Be in Trouble

January 10, 2013 | About:

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.

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