Warren Buffett warned us about a “financial crisis like the one currently engulfing Wall Street,” said Ben Steverman in BusinessWeek online. Now that it’s here, the investment guru is profiting by pumping billions into GE and Goldman Sachs, two companies “near the eye of the financial storm.” Buffett’s confidence should ease the panic, but it won’t be enough to “stem the crisis.”
No, but there is another way Buffett could lead us out of the darkness, said Richard Beales in Slate. Let him run the $700 billion rescue. Sure, the “legendary” investor and chairman of Berkshire Hathaway “certainly has more rewarding things to do.” But it’s hard to think of anyone better equipped to manage a giant pot of taxpayer money without going power mad, or bending to political interference.
While Washington is at it, said the Toronto Globe and Mail in an editorial, it should put Buffett in charge of all the government’s “emergency economic stabilization” efforts. One reason the nation is seized with fear is that few people understand how bad things are, and how the government can help. “Buffett, with his genius for explaining and persuading, could rally both the financial and political worlds and the American people.”
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- How U.S. special forces are preparing for the worst-case scenario in North Korea
- I hate Ayn Rand — but here's why my fellow conservatives love her
- Here's the schedule very successful people follow every day
- Hey, Paul Ryan's new poverty plan isn't completely terrible!
- The 11 worst fast food restaurants in America
- The secret to Gabrielle Hamilton's amazing grilled cheese sandwiches
- Deficit scolds are the most crazed ideologues in America
- The weird obsession that's ruining the GOP
- 7 things the world's happiest people do every day
- The disturbing lessons of Arizona's un-American execution
Subscribe to the Week