Warren Buffett, Charlie Munger blame faulty regulation for banking turmoil

By Josh Funk

Associated Press

Published: Monday, May 3 2010 12:00 a.m. MDT

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Summary

Warren Buffett and Charlie Munger again defended Goldman Sachs Group Inc. on Sunday, saying faulty government regulations are to blame for most of the economic turmoil of the past few years, not investment banks.

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Gr8Dane

Oh, I get it. So now Obama wants to pass more regulations of Wall Street in order to "prevent" another meltdown? This , from a guy who never had a real job before being President other than Lawyer of corrupt ACORN? At least Buffett knows what he's More..

4:53 a.m. May 3, 2010
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Progressive

Gr8Dane, read the quote again. They aren't saying Wall Street shuldn't be regulated but that it has been regulated poorly. In fact one of the problems they see is too much permissiveness. I'm sorry Obama fixing the financial regulation is not wrong More..

7:29 a.m. May 3, 2010
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Laurels

Re: Progressive
The article does say that Buffet and Munger place much of the problems with Wall Street on "faulty government regulations of the financial industry" and on the "permissiveness and stupidity" of those regulations.

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9:13 a.m. May 3, 2010
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