Warren Buffett Says More Bank Failures Are Likely But Depositors Are Safe
- Berkshire CEO praises BofA’s Moynihan, plans to hold the stock
- Troubled bank shares aren’t value investments, Buffett says
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Warren Buffett said more US banks are likely to fail, but depositors should be confident they won’t lose any of their funds.
“We are not through with bank failures,” the Berkshire Hathaway Inc. chairman and chief executive officer said in an interview on CNBC Wednesday. “Dumb decisions” by bank managers shouldn’t be “panicking the whole citizenry of the United States about something they don’t need to be panicked about.”