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19 April 2024

Paulson, Buffett say US needed tough medicine

Henry Paulson (SUPPLIED)

By Reuters

Former US Treasury secretary Henry Paulson and billionaire investor Warren Buffett, from different sides of the political spectrum, have expressed support for the US government's aggressive steps in 2008 to keep the nation's banks and economy from a complete meltdown.

They were speaking before the annual meeting of the Greater Omaha Chamber of Commerce in Nebraska, where Buffett's insurance and investment company Berkshire Hathaway is based.

Paulson and many other regulators have been faulted for letting Lehman Brothers Holdings go bankrupt in September 2008, a signal event in the financial crisis and by far the largest bankruptcy in US history.


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