Buffett backs Bail Out plan. Will this help it pass?

[OMG Jim]

I know that there are many like myself that have followed America's leading investor Warren Buffett for many years and know that "When Buffett talks, people listen".

Since this whole economic bail out plan is more than most of us can fathom I decided to see what Mr. Buffett's take was on this whole thing and to say I was surprised was an understatement.

This guy has been one of the shrewdest investors America has ever seen but something tells me that his position on the bailout may be a way a swaying things in his favor versus being the best solution for the American taxpayers based on this statement from today's AP article... "Buffett says, he always tries to be greedy when others are fearful".

Of course when you have $31.2 billion cash on hand it's easy to be greedy

I've lost over 30% of the value of my kid's college mutual funds in the last two weeks and I just feel that it's time to do something.... but WHAT???

Here is today's article on Yahoo Finance. What do you think?

Link to article: http://biz.yahoo.com/ap/081002/buffett_economy.html
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[gornyhuy]

You are correct, its time to do something.

BUY BUY BUUUYYYY!!!!

BUY LOW, don't sell low.

[King of Queens]

Could be true but he have too much credibility on the line at the same time.

He's in a powerful position and can help because when he talk people listen.

I think he has more than 30% of his kids college mutual funds to lose by pulling
a misleading enron move so to speak.

[12clicks]

he bought 5 billion of Goldman stock. of course he backs the bailout.
he's protecting his investment.