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'Most banks not too big to fail'

May 04 2009 14:18

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Omaha - Billionaire Warren Buffett says most of the banks the US government is evaluating with stress tests are not too big to fail.

Buffett says he's not sure how the government will handle the situation when the results of the stress tests are released, but he doesn't think the government should rule out the failure of most of the banks.

Buffett says all but the four biggest banks the government is examining could be sold and should not be considered too big to fail.

Buffett and Berkshire Hathaway's vice chairperson Charlie Munger held a news conference on Sunday, a day after 35 000 attended the company's annual meeting.

- AP

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