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 academia's liberal bias is killing social science
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Hey, bosses: Stop giving bonuses to your employees
- 10 things you need to know today: December 18, 2014
- Why torture doesn't work: A definitive guide
- 43 TV shows to watch in 2014
- Could better U.S.-Cuban relations thwart baseball's human smuggling problem?
- Dick Cheney's America is an ugly place
- The liberation of Barack Obama
- The Hobbit: A disappointing set of movies, but a worthy set of prequels
Subscribe to the Week