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Warren Buffett did not offer to buy 100% of Long Term Capital. He was asked to
buy in to it and he, being the smart investor that he is, refused. That's why
the Fed had to strong arm the banks to buy LTC.
As for sales, retail sales are now tanking. Many companies have announced
layoffs in the last few days. Banks are cutting back on credit rapidly.
Caution is warranted.
Howard
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