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domingo, setembro 20, 2009

Buffett says U.S. economy 'has not turned up'

Buffett says U.S. economy 'has not turned up'

CARLSBAD, Calif., Sept 15 (Reuters) - The U.S. economy has not begun to climb out of the worst recession since the Great Depression but the 'terror' that followed last year's near-collapse of the financial system is gone due in part to government intervention, billionaire investor Warren Buffett said on Tuesday.

'At the moment we don't see it getting better or worse, but that's better than you could say six months ago,' said the Wall Street guru.

'The economy has not turned up but it will turn up,' he told Reuters in a brief interview at a Fortune conference in Carlsbad, California.

Buffett maintained a positive outlook on the government's much criticized Troubled Asset Relief Program (TARP) for banks, saying it may ultimately turn a profit for the government.

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