ACT. WHICH” S WHEN YOU GET RESPONSIBLE– >> > > O.K., BUT THE– >> > > YOU OBTAIN A MUCH BETTER BANKING SYSTEM. >> > > A FEW OF THE FINANCIAL INSTITUTIONS YOU MARKETED INCLUDE USB, WELLS FARGO, GOLDMAN SACHS, JPMORGAN, SHOULD WE THINK THERE ARE FINANCIAL INSTITUTIONS THAT AREN” T WELL RUN BECAUSE YOU HAVEN ‘ T SOLD THEM? >> > > NO, BUT I DID THINK THAT FINANCIAL CAN ENTER A LO T OF PROBLEM BECAUSE OF THE KINDS OF THINGS THEY DID. >> > > WHY DID YOU KEEP FINANCIAL INSTITUTION OF AMERICA? >> > > IF BERKSHIRE COULD OWN 100% OF A FINANCIAL INSTITUTION, WE WOULD LOVE– WE CAN” T GO TO THE BANK HOLDING FIRM. >> > > WOULD YOU LIKE TO BE A BANK HOLDING COMPANY? >> > > WELL, THAT INDICATES WE CAN” T DO ALL THE OTHER THINGS WE DO SO, WE HAVE TO TAKE IT OUT OF THAT IN 1970, WE SIMPLY BOUGHT A FINANCIAL INSTITUTION IN 1969 AND WE HAD TO GET RITT ELIMINATE IT IN 10 YEARS THAT SPECIFIC ALTERNATIVE HAS BEEN TAKEN AWAY FROM BERKSHIRE AND I BELIEVE IT IS PROBABLY A GOOD CONCEPT TO TAKING IT AWAY FROM COMPANY MANAGEMENT GENERALLY.
>> > > WHY DID YOU KEEP BANK OF AMERICA? >> > > PARDON ME >> > > WHY DID YOU MAINTAIN FINANCIAL INSTITUTION OF AMERICA? >> > > WELL, A, THEY INVITED– I WELCOMED MYSELF IN, YEARS EARLIER, AND MADE A REALLY GOOD OFFER FOR US AND I SUCH AS PURCHASE ING IMMENSELY I SIMPLY PUT ON” T INTEND TO MARKET IT BUT I DID SELL FINANCIAL INSTITUTIONS THAT WE HAD FOR 25 OR THIRTY YEARS AND IF THEY ASKED ME WHY I DID IT, I TOLD THEM, BUT I LIKED THE PEOPLE I SIMPLY THINK THE SYSTEM ISN” T QUITE RIGHT IN REQUISITES OF CONNECTING PUNISHMENT TO CULPRITS ON SOMETHING THAT IS AN VITAL– INCREDIBL IMPORTANT THAT YOUR BANKING SYSTEM RUN WELL IN THE NATION IT SIMPLY ISN” T GOING TO WORK UNLESS YOU HAVE