Buffett Says GM Rescue May Mean U.S. Can’t Say No to States

Future policy decisions will be shaped by the choices already made. Save me or face the consequences of inaction. The Greek drama provides a glimpse as to the nature of those consequences.

Warren Buffett, chairman of Berkshire Hathaway Inc., said the U.S. would probably feel compelled to rescue a state facing default after the government committed $700 billion to bail out financial firms and automakers.

“It would be hard in the end for the federal government to turn away a state having extreme financial difficulty when they’ve gone to General Motors and other entities and saved them"

Source: bloomberg.com