Warren Buffet, If you start a fund to invest in the credit crisis, i am confident that you can raise more than 700 Billion dollars capital. Worlds trusts you more than any body else. This is one of the biggest philanthropical thing you could do to mankind. I will invest my savings of 3000$ into fund. i am not confident of my job position, otherwise i could have invested 10,000$. Please make the minimum amount as 1000$ or less. So many people can patriotically join. Using the fund assets you can buy toxic cdo, mbs at pennies on the dollar etc. Long Live Warren Buffett
Well, I'm certainly in no position to speak for Mr. Buffett, but I would guess that he would not be inclined to start such a fund. As CEO of Berkshire Hathaway, his primary responsibility is to choose the right mix of investments for BH, and give the managers of his subsidiary companies the freedom to run their operations and meet their goals.
As far as the "philanthropical thing," his 2006 commitment to donate 37 billion dollars (over a period of ten years) to the Bill and Melinda Gates Foundation should go a long way to fulfull that "philanthropical thing." Don't you agree?
This is not only a money crisis but an American Culture Crisis:
. Real Estate KoolAid . Excessive Leverage . Acting not responsibly: Pledge allegiance to the flag and kick the country in the rear end for a buck . Arrogance . Having it so good for so long has its downside
Not only Wall Street was a culprit but main street also....Only too happy to get themselves in huge houses by using low interest rates to finance the dream. The whole country including the government was partying and we are still denying it was our fault...So easy to blame others.