America's favorite investor up $10 billion in past 12 months on surging Berkshire Hathaway shares; says U.S. has survived economic "Pearl Harbor," but warns recovery will be slow. Shrewdly invested $5 billion in Goldman Sachs and $3 billion in General Electric amid 2008 market collapse. Recently acquired railroad giant Burlington Northern Santa Fe for $26 billion.
* So Warren Buffett says the US must act or "face an economic Pearl Harbor". An unfortunate choice of words as an increasingly weakened Wall Street turns to Japanese banks for assistance. Mitsubishi UFJ Financial Group, Japan's largest bank, is acquiring up to 20% of Morgan Stanley; Nomura is buying parts of Lehman; and Sumitomo Mitsui has been linked with Goldman Sachs. Other deals involving Japan's institutions are mooted.
Warren Buffett says US in ‘economic Pearl Harbor’
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