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Buffett Says U.S. Banks a Class Apart From Europeans

Warren Buffett, whose Berkshire Hathaway Inc. has more than $20 billion invested in U.S. banks, said the nation’s lenders have “liquidity coming out of their ears” and are in better shape than European rivals.

“I would put European banks and American banks in two very different categories,” Buffett, Berkshire’s chief executive officer, said May 5 at the firm’s annual meeting in Omaha, Nebraska. “The American banking system is in fine shape. The European system was gasping for air a few months back” until getting assistance from the European Central Bank, he said.