Tags: US | Buffett | Paulson | Talk

Paulson Says Nation May Profit From Bank Bailout

Tuesday, 09 Feb 2010 02:27 PM

 

Former Treasury Secretary Henry Paulson predicted the U.S. government will regain every penny given to the nation's banks during the economic meltdown and may even profit.

Billionaire Warren Buffett agreed with Paulson Tuesday that the bank bailout will eventually be profitable for the nation. The two men spoke at the Greater Omaha Chamber of Commerce's annual meeting.

Buffett led the talk by asking Paulson about his recently released book: "On the Brink: Inside the Race to Stop the Collapse of the Global Financial System."

Buffett, the longtime Democrat, said Paulson's book gave him an appreciation of how well former President George W. Bush understood the economy and how the government reacted during crisis.

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