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Buffett Ignores Pimco's Gross While Pitying Bond Investors
Buffet & Munger: “I feel sorry for people that have clung to fixed-dollar investments,” Buffett said. Savers depending on bond payments are “victims” of policies to lower borrowing costs, he said.
Buffett and Munger agreed in their support of Fed Chairman Ben S. Bernanke’s efforts to support the economy.
“They had to hurt somebody, and the savers were convenient,” Munger said. “I would have done what they did. I would have felt bad about it, but that’s what I would have done.”
Bernanke “had a lot of guts,” Buffett told Liu. “I’ve got a lot of confidence in him. I’d be interested to see how he unwinds” the measures designed to ease borrowing."
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