The Real Reason Obama Talked To The Wapo

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THE PLANK JANUARY 16, 2009

The Real Reason Obama Talked To The Wapo

...and not the Times. I'd guess it goes by the name "Warren Buffett," the informal Obama adviser and Post board member. Here's Obama about 19:40 into yesterday's interview: "Now I don’t want to have a very detailed conversation in front of Warren Buffett, because he will recognize every wrong thing that I say here..."

Not a bad card to play if you're a media organization trying to broker a sit-down with the president-elect...  

P.S. By the way, the full quote is very reassuring to those of us who worry that the economy won't recover until we fix our broken financial system:

We can’t just spend our way out of the problem. At some point credit has to flow effectively. Now I don’t want to have a very detailed conversation in front of Warren Buffett, because he will recognize every wrong thing that I say here. But I think he would concur with the general proposition that the credit markets are still very weak. That banks now are fully caught up in a downward spiral where they have now affected the real economy [and] the real economy is now affecting their balance sheets. So we’re going to have to intelligently and strategically infuse some additional capital into the financial system…  

Well said. 

--Noam Scheiber

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