Posted AT 11:08 AM EST on 22/08/08
Buffett sees economy weak into 2009
NEW YORK — Warren Buffett said the U.S. economy is still in a recession and unlikely to improve before 2009 but that stocks appear better valued than a year ago.
The billionaire investor also said there is a “reasonable chance” shareholders of Fannie Mae and Freddie Mac may be wiped out in any government bailout of the mortgage financiers.
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