Deep Fried Secrets of the Credit Crunch

Warren X. Buffett’s secrets of the credit crunch Insights from renowned investor Warren X. Buffett in a rare Q-and-A session as edited by Wynn Quon

Intro ,[object Object],[object Object],[object Object]

Q: Mutual funds, which ones should I avoid? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Q: Is it true about the NINJA loans? Where can I (employed for eighty years and income of $60 billion a year) get one? ,[object Object]

Q: Is it true that mortgages were given to 23 dead people in Ohio? I am dead, can I get one? ,[object Object]

Q: Can you explain the credit crisis in a dozen words or less? Also make it rhyme, please. ,[object Object],[object Object],[object Object],[object Object]

Q: I’ve heard some scary numbers, how big is the problem? ,[object Object],[object Object],[object Object]

Q: Can you relate this crisis to something we can understand? ,[object Object],[object Object]

Q: The TED spread, why should I care? ,[object Object]

Q: Will the US$850 billion bailout work? ,[object Object]

Q: Ben Bernanke looked kind of nervous during Congressional testimony and Hank Paulson was bald, should I be worried? ,[object Object]

Q: What’s the deal with Iceland? ,[object Object]

Q: Is it true that the credit crisis is a Bush conspiracy? ,[object Object]

Q: The ban on short sellers, is it necessary? ,[object Object]

Q: Can you explain the credit default swap? ,[object Object]

Q: Lehman Brothers, what happened? ,[object Object]

Q: I’m just an ordinary working stiff but lately people have been accusing me of making $484.4 million and driving a prestigious 150 year old investment bank into the ground, when in actual fact the number was really $250 million. What should I do? ,[object Object]

Q: Who’s really to blame for this mess? ,[object Object]

Q: We’ve had five post-war banking crises revolving around real-estate bubbles. Each one ended in a bear market that lasted at least two years. Is this time different? ,[object Object]

Q: After the Japanese real estate bubble collapsed in 1990, they had an 80% drop in stock prices and their housing prices are still down fifty percent twenty years later. And they were buoyed up at the time by the rest of the global economy! ,[object Object]

Q: When you said that “only when the tide goes out, do you see who’s been swimming naked”, what did you mean? ,[object Object]

Q: We’re entering an age of frugality. What are some of your frugal tips? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Q: Tell us about the next policy initiatives we’ll see from the Treasury Dept and the Federal Reserve. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Q: Do you have confidence in our financial system? Or are you putting your money in a mattress? ,[object Object]

End Note and Dedication ,[object Object],[object Object],[object Object],[object Object],[object Object]

Deep Fried Secrets of the Credit Crunch

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