Salient to Investors:
Warren Buffett said:
- JPMorgan Chase CEO Jamie Dimon would be the best person to replace Geithner in a financial crisis – world leaders would have confidence in him. If you run an army, a church, a government, any large institution, people will go off the reservation sometimes.
- The economy could withstand a failure to meet the fiscal cliff deadline if lawmakers were working toward a fix.
- The ability of some of the highest earners to avoid federal taxes shows why laws should be changed so the wealthy pay more. Six of the 400 with the highest incomes in the U.S. in 2009 paid no taxes at all. Higher taxes on the wealthy won’t thwart investment.
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