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Policy / ECONOMY

Warren Buffett Fingers Congress on Economy

Warren Buffett, chairman of Berkshire Hathaway Inc.(AP Photo/Pablo Martinez Monsivais)

July 13, 2012

Warren Buffett, the chairman of Berkshire Hathaway Inc., said Americans are “quite disgusted” with Congress regarding the economy, according to Bloomberg News.

In his appearance on Bloomberg TV's "In the Loop" this morning, he said Congress should raise the debt ceiling “this afternoon.”  He complained that the debt ceiling was being used as a "pawn." 

Wells Fargo & Co, where Berkshire Hathaway holds over 7 percent of the common stock, "did the best job of the big players in the mortgage market," according to Buffett.

 

He gave his insight into JPMorgan and his advice to CEO Jamie Dimon: “Keep your head down.” 

In the past year, Buffett has been expanding Bershire's media operations by buying the Omaha World-Herald Co., and 63 daily and weekly newspapers from Media General Inc.

Buffett said that he might add more publications, depending on what companies are interested. “We don’t go out searching for them at all, they come to us,” the billionaire said.

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