Buffett on Bailout

Warren Buffett is one billionaire who gets a lot of my respect since he doesn't come off as your stereotypical greedy billionaire (see Donald Trump). If you don't know much about him, at least check his wiki.

Yesterday on CNBC Buffett weighed in on the economic crisis, bailout plan, and more...

Last week we were at the brink of something that would have made anything that's happened in financial history look pale. We were very, very close to a system that was totally dysfunctional and would have not only gummed up the financial markets, but gummed up the economy in a way that would take us years and years to repair. We've got enough problems to deal with anyway. I'm not saying the Paulson plan eliminates those problems. But it was absolutely, and is absolutely necessary, in my view, to really avoid going over the precipice.

Click Here for the full interview in three parts.