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Warren Buffett in discussions with Biden officials on banking crisis-source

Published 03/18/2023, 07:43 PM
Updated 03/18/2023, 07:45 PM
© Reuters. FILE PHOTO: Warren Buffett, Chairman, CEO and largest shareholder of Berkshire Hathaway takes part in interviews before a fundraising luncheon for the nonprofit Glide Foundation in New York September 8, 2015. REUTERS/Lucas Jackson/File Photo

WILMINGTON, Delaware (Reuters) - Berkshire Hathaway (NYSE:BRKa) Inc's Warren Buffett has held discussions with senior Biden adminstration officials about the banking crisis, a source familiar with the matter told Reuters on Saturday.

The White House and U.S. Treasury declined to comment. Bloomberg News reported earlier that Buffett had been in touch with administration officials in recent days about the regional banking crisis, Bloomberg News reported on Saturday.

© Reuters. FILE PHOTO: Warren Buffett, Chairman, CEO and largest shareholder of Berkshire Hathaway takes part in interviews before a fundraising luncheon for the nonprofit Glide Foundation in New York September 8, 2015. REUTERS/Lucas Jackson/File Photo

The source declined to elaborate on the details of the discussions.

The collapse of Silicon Valley Bank and Signature Bank (NASDAQ:SBNY) this month has shaken confidence in the banking system and prompted a sell-off in banking stocks.

Latest comments

Buffet walked away in a neck brace from shaking his head so much
Your lives are about to get interesting.
If I was Buffet I'd say, "Let's go Brandon!"
warren doesn't do empty-headed maga slogans..
Biden will offer to buy oil if Warren buys a bank. hehe
BTC is the safety . Hold your 25% asset in BTC. 25% in land , 10% gold and 40% new tech ( AI, three D , Genetic , new source of energy and storage , metaverse like MTTR )
BTC is NOT SAFE
lol noob
another bust...
The only guarantee here is the common man will get screwed
Looks like a good time to buy bank stocks lol
gold is up at monday
gold up down
buffet to fed: buy and hold long term to weather bank turmoil
So he’s an expert on banking now?
Actually his ideas saved the banking system the last time.
more than you Rolln. i am sure of that. his backstop liquidity to wells and goldman were hugely impactful votes of confidence. read more. talk less.
a good bank stock is a very secured investment. since banks are backbones of economies, they always have gov back.
Baloney! Buffett's been getting killed with his Oxy Pete investment.  Probably a trade: Buffett will come out and announce he's buying some bank stocks and in return, Brandon will promise to start buying back oil for the SPR.
 He bought it at ~59.5 to 62$. And options to buy more at 60.5$ What's it at now?
- Don't Forgt he bought Millions of shares of Occidental Petroleum at $8.00 a share at First when Oil had totally Crashed in 2020. How conveniently 'we' forget and obtained an Option to buy Millions of shares I think on a 7-Year Option at *.50 and well he's made almost 10x or more on his initial Investment & Counting!
Burden already announce plans to buy back oil for SPR. You are not well informed.
Old Yellen assured Congress (US) that our banking system is sound.....that's why they're calling in the big guns.
nah warren's sitting on a wad of cash and bailouts pay more than 4 %
I see nothing wrong in getting warrens take on the situation. the more informed you are, the better decisions you can make..
Then don't claim that everything is ok
I think we're going to see a rally in stocks this week like never before
Now that's master class style hopium moonboi post right there lol. No matter what happens, even nukes, but it's an ATH rally ahead always.
If we do, it'll just make the bubble bigger and when it bursts it'll be that much bigger of a flush
Jeff Gordon did you bet your house? lmao
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