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World Warren Buffett joked he would be 'eating Thanksgiving dinner at McDonald's' if the US government hadn't bailed out the banks in 2008

15:11  26 november  2020
15:11  26 november  2020 Source:   businessinsider.com.au

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The 88-year-old Berkshire Hathaway CEO still comes to work every day and eats chicken nuggets three times a week.

Simply put, Warren Buffett has a way with words. When it comes to investing, money or even life, the Berkshire Hathaway founder always finds the right words to lend Tip: While there’ s value in moving quickly, the stock market can’ t be timed. When your horizon is forever, you can ride out the waves.

a person sitting at a table looking at a laptop: Warren Buffett loves McDonald's. Warren Buffett loves McDonald's.
  • Warren Buffett faced a fast-food Thanksgiving in 2008 if US authorities didn't save the financial system, he joked in a CNBC interview in 2010.
  • "If the government hadn't acted, I would be eating Thanksgiving dinner at McDonald's," he said.
  • The famed investor and Berkshire Hathaway CEO wouldn't mind too much, as he picks up breakfast at the restaurant chain on his way to work every day.
  • Buffett is also the proud owner of a McDonald's gold card, meaning he can eat for free at the company's restaurants in Omaha.
  • Visit Business Insider's homepage for more stories.

Warren Buffett would have celebrated Thanksgiving with a Big Mac, fries, and a milkshake in 2008 if US officials hadn't bailed out the banks, he joked in a CNBC interview in 2010.

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Warren Buffett called Hank Paulson in 2008 , according to "Panic," a new documentary about the financial crisis. Buffett ' s suggestion led to a 0 billion bank deal that former President George W How a late night phone call from Warren Buffett in 2008 may have helped save the US economy.

Warren Buffett eats the same thing for breakfast every day—and it never costs more than .17. Published Wed, Apr 18 201811:04 AM EDTUpdated On his five-minute drive to the office, which he 's been making for the past five decades, Buffett stops by McDonald ' s and orders one of three items

"If the government hadn't acted, I would be eating Thanksgiving dinner at McDonald's," he quipped.

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The billionaire investor and Berkshire Hathaway CEO raised that prospect to underscore the enormous threat posed by the financial crisis in 2008. However, few would put it past him to follow through on a fast-food Thanksgiving.

The Berkshire chief typically grabs breakfast at McDonald's during his morning drive to the office, opting for a pricier bacon, egg, and cheese biscuit if he's feeling especially wealthy. He also carries one of the restaurant chain's gold cards in his wallet, which entitles him to free meals for life within his hometown of Omaha.

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Warren Edward Buffett (/ˈbʌfɪt/; born August 30, 1930) is an American investor, business tycoon, philanthropist, and the chairman and CEO of Berkshire Hathaway.

Buffett says he would be in trouble. "If this was a sports economy, I'd starve to death. You could give me six hours of training every day and I could practice at night… In addition to recommending the government play an active role in wealth redistribution, Buffett does his personal part via philanthropy.

"That's why the Buffett family has Christmas dinner at McDonald's," he joked in a CNBC interview in 2007.

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Buffett isn't shy about showing his love for McDonald's or his thriftiness, even when he's spending time with Bill Gates, one of the wealthiest men in the world.

"Remember the laugh we had when we travelled together to Hong Kong and decided to get lunch at McDonald's?" Gates wrote in a public letter to Buffett in 2017. "You offered to pay, dug into your pocket, and pulled out…coupons!"

Giving thanks to the government

Buffett joked about celebrating Thanksgiving at McDonald's shortly after he praised the US government's financial-crisis interventions in a New York Times op-ed.

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Warren Buffett called Hank Paulson in 2008 , according to "Panic," a new documentary about the financial crisis. Buffett ' s suggestion led to a 0 billion bank deal that former President George W. Bush says may have averted a depression.

Berkshire Hathaway CEO Warren Buffett , the third richest person in the world, said in a new “ He could get me to do anything. If they'd had an SAT test, in those days, he would have taken the test We ’re a little over one week past the Presidential election, and the market reaction shows that that

"The challenge was huge, and many people thought you were not up to it," he wrote. "Well, Uncle Sam, you delivered."

"Your grateful nephew, Warren Buffett," the investor signed the letter.

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There are few people more qualified than Buffett to judge the federal response in that period. When credit markets seized up, Berkshire invested billions of dollars in blue-chip companies including Goldman Sachs and General Electric, and loaned much-needed cash to ailing businesses such as Harley-Davidson.

The investor also phoned Treasury Secretary Hank Paulson in October 2008 to suggest the US government invest directly in the banks instead of only buying their assets, inspiring a program that may have staved off an even deeper recession.

Warren Buffett's Berkshire Hathaway was slammed for not spending when markets crashed. It announced more than $35 billion of investments last quarter .
Warren Buffett's Berkshire Hathaway announced more than $US35 billion of investments last quarter. The billionaire investor's company spent almost $US18 billion on stocks, repurchased a record $US9 billion of its shares, and struck about $US10 billion worth of deals. Buffett and his team boosted their Bank of America holding, added Snowflake and four pharmaceutical companies to their portfolio, revealed stakes in five Japanese trading companies, and began building a secret position. They also agreed to acquire most of Dominion Energy's natural-gas assets and help finance Scripps' takeover of ION Media.

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