Warren Buffett Quotes
Putting people into homes, though a desirable goal, shouldn’t be our country’s primary objective. Keeping them in their homes should be the ambition..
Warren Buffet, Industrialist and Financier, Berkshire Hathaway Chairman's Letters to Shareholders, 2008
Sourced by: Eigen's Political and Historical Quotations
This was yet another warning about an area that became a major factor 4 years later in the Meltdown of 2008 and the Great Recession. The George W. Bush administration, however, rejected proposals to prevent more mortgage abuses by regulating the banks and mortgage brokerage industry more.
He was speaking for the Bush Administration. He was another regulation-opposed appointee of the George W. Bush Administration. He killed many regulations that had been developed to better regulate the banks and the mortgage industry to stop many of the obvious abuses of the industry. With few regulations in place, despite warnings such as {638024}, what had been greedy and dangerous practices of a minority of the industry became the vast majority when the bubble burst in the Meltdown. Note the rhetorical device of using “regulatory intrusion” rather than “regulation” or “more regulation”. This reflected an extreme conservative view that all regulation is bad – an “intrusion”, while most conservatives want a reasonable degree of regulation and not the elimination of all regulation.
There was concern that there might be a housing bubble developing with consequent overpricing of houses. The bubble broke and when it did, it was sudden and dramatic with the Meltdown of 2008
Warren Edward Buffett is an American investor, business tycoon, philanthropist, and the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of over US$100.6 billion as of April 2021, making him the world's seventh-wealthiest person.
