In a wide ranging discussion this afternoon, Berkshire Hathaway Chairman and CEO Warren Buffett interviewed former Treasury Secretary Hank Paulson at the Greater Omaha Chamber of Commerce annual meeting in Omaha. The topics discussed ranged from insights in Mr. Paulson’s recently published book, On The Brink, as well as broader questions regarding the 2008 credit crisis, relations with China, and prospects for the United States economy going forward. While the tone of the interview was friendly, a number of important topics were covered in a candid manner. The video of the interview appears in this post.
Most outside observers had difficulty keeping up with all of the momentous events of the weekend of September 14-15, 2008 with all of the twists and turns that finally led to Lehman Brothers’ historic bankruptcy filing, Bank of America’s purchase of Merrill Lynch, and AIG’s bailout only a few days later. Ever since that tumultuous period, there has been a need for a comprehensive book covering the behind the scenes events. Andrew Ross Sorkin’s Too Big To Fail has succeeded in delivering exactly what is needed to gain a better understanding of what actually took place. Read this article for a detailed review and thoughts on “lessons learned”.