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Resolution Trust Company was set up to liquidate a bunch of assets that the government had inherited because the savings and loans went broke.

Warren Buffett

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Warren Buffett
Age: 94
Born: 1930
Born: August 30
Entrepreneur
Financier
Investor
Shareholder
Omaha
Nebraska
Warren Edward Buffett
Saving
Broke
Liquidate
Bunch
Loans
Trust
Inherited
Went
Savings
Company
Loan
Government
Assets
Resolution

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The secret to happiness is having low expectations.
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I would say that an RFC-like thing might make sense. I probably would do it myself. But I don't think trying to combine that with what's going through now, I think what is needed now is liquidity.
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Cash, though, is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent... When bills come due, only cash is legal tender. Don't leave home without it.
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If I taught a class, on my final exam I would take an Internet company and ask, 'How much is this company worth?' Anyone who would answer, I would flunk.
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