In an interview with CNBC on Monday, Warren Buffett shared his thoughts on the U.S. policy response 2008 financial crisis.
Despite what he describes as “huge” political pressure, he lauded Fed Chairman Ben Bernanke, Treasury Secretary Hank Paulson, New York Fed President Tim Geithner, and US President George W. Bush for their bold yet controversial actions during the height of the 2008 financial crisis.
“I think they were heroic,” Buffett said.
However, he also understood the anger they faced from the American public.
“You weren’t going to sell [those policies] to the American people, and I don’t blame them,” he said. “All they knew was that they hadn’t done anything wrong, and their world was falling apart.”
Buffett also described the 2008 crisis in simple terms and revealed his key takeaway from the crisis.
“What we really learned in that particular panic was the fact that we’re all dominoes and we’re all very close together,” he said.
Watch the full Warren Buffett interview below:
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