I think that they hoped the private sector would come in. And the private sector tried to come in until they saw the size of the problem. I mean, from were people on that weekend that thought they'd had a solution. And then the hole kept getting bigger and bigger. And all of a sudden became apparent that 20 billion wouldn't do it and 30 billion wouldn't do it and 40 billion wouldn't do it. So it got beyond anybody's ability to certainly to do it in a short period of time.

We look for things I can understand. A lot of businesses I don't understand.

We really can say no in 10 seconds or so to 90%+ of all the things that come along simply because we have these filters.

Buy into a company because you want to own it, not because you want the stock to go up.

There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.

You can't stand to see your neighbor getting rich. You know you're smarter than he is and he's doing these things and he's getting rich.

At this point, when treasury bills, seven day treasury bills at 1/20th of one percent, it's not because people want to earn 1/20th of one percent, it's because they trust the fact the treasury will give it back to them next week.