Dear Uncle Sam: Thanks

Only you could have saved us from financial meltdown: Warren Buffett
By Polly Davis Doig,  Newser Staff
Posted Nov 17, 2010 8:28 AM CST
Dear Uncle Sam: Thanks
Warren Buffett.   (AP Photo/Charles Dharapak)

Sure, it's all the rage to curse big government, government spending, government in general, but there's one guy who's thankful for it—and his name happens to be Warren Buffett. Writing a thank-you letter disguised as an op-ed for the New York Times, Buffett praises Uncle Sam's intervention in the financial crisis: As America's financial pillars stood ready to fall like dominoes two years ago, "Only one counterforce was available, and that was you, Uncle Sam. Yes, you are often clumsy, even inept. But when businesses and people worldwide race to get liquid, you are the only party with the resources to take the other side of the transaction."

"You’ve never been known for speed, and in a meltdown minutes matter. I worried whether the barrage of shattering surprises would disorient you. The challenge was huge, and many people thought you were not up to it. Well, Uncle Sam, you delivered. People will second-guess your specific decisions; you can always count on that. But just as there is a fog of war, there is a fog of panic—and, overall, your actions were remarkably effective." (Read more Warren Buffett stories.)

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