What does the worlds richest person say about the economy on Wall Street? Warren Buffett told Bloomberg:
``The worst of the crisis in Wall Street is over,'' Buffett said today on Bloomberg Television. ``In terms of people with individual mortgages, there's a lot of pain left to come.'' Buffett was interviewed before the Omaha, Nebraska-based company's annual meeting, attended by about 31,000 people.
He said the bail out of Bear Stearns helped save others from crashing, and that indeed he tried to make a play for the failing firm but wasn't liquid enough."It averted a very chaotic situation".
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