"That goes back to 1932, although it was really implemented in '33 under Jesse Jones, and it invested in mostly banks initially and preferred stock and that sort of thing. So there are two things needed in the system, the one that's needed overwhelmingly is liquidity. I mean, when people are trying to [unintelligible], there has to be somebody there to buy."

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Source: Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime. Interview With Charlie Rose, www.cnbc.com. October 1, 2008.

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Warren Buffett

Investor, Businessman

Warren Buffett is a renowned investor and philanthropist known for his value investing philosophy and leadership at Berkshire Hathaway.

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