Warren Buffett Jokes About Thanksgiving at McDonald’s Without the 2008 Bailouts

Warren Buffett, the billionaire investor and Berkshire Hathaway CEO, once made a lighthearted remark about how he would have celebrated Thanksgiving at McDonald's if the US government hadn't bailed out the banks in 2008. In a CNBC interview in 2010, he joked, "If the government hadn't acted, I would be eating Thanksgiving dinner at McDonald's."

Buffett's Love for McDonald's

This quip was not out of the blue, as Buffett has often expressed his fondness for McDonald's. He frequently starts his day with breakfast at the fast-food chain during his morning drive to the office. If he's feeling particularly indulgent, he opts for a bacon-egg-and-cheese biscuit.

Buffett's affection for McDonald's goes beyond just breakfast. He even owns one of the restaurant chain's gold cards, which entitles him to free meals for life at any McDonald's in his hometown of Omaha, Nebraska. In a CNBC interview in 2007, he humorously mentioned that the Buffett family has Christmas dinner at McDonald's.

Even when dining with fellow billionaire Bill Gates, Buffett doesn't shy away from his love for McDonald's. Gates once shared a story in a public letter to Buffett about their trip to Hong Kong, where they decided to have lunch at McDonald's. Gates recalled how Buffett offered to pay and then pulled out… coupons!

Buffett's Support for the Government's Intervention

Although Buffett made a joke about eating Thanksgiving dinner at McDonald's, he also praised the US government's intervention during the 2008 financial crisis. In a New York Times op-ed article, he commended the government's efforts and wrote, "The challenge was huge, and many people thought you were not up to it. Well, Uncle Sam, you delivered." He signed the letter "Your grateful nephew, Warren."

Buffett's support for the government's actions is not surprising given his own involvement during that period. When credit markets froze, Berkshire Hathaway invested billions of dollars in renowned companies like Goldman Sachs and General Electric. Additionally, Buffett personally reached out to Treasury Secretary Hank Paulson to propose that the government invest directly in the banks, which inspired a program that potentially prevented a more severe recession.

Buffett's Unique Perspective

Warren Buffett's remarks about Thanksgiving at McDonald's and his appreciation for the government's actions during the 2008 financial crisis offer a glimpse into his personality and unique perspective. As one of the most successful investors in the world, his opinions carry weight and authority in evaluating the federal response to the crisis. Buffett's love for McDonald's and his thrifty nature, even in the company of billionaires, add a touch of whimsical charm to his story.

Ultimately, Warren Buffett's joke about a fast-food Thanksgiving without the 2008 bailouts highlights the significance of the financial crisis and the impact it had on individuals and institutions alike. Despite his wealth, Buffett's down-to-earth nature and sense of humor make him relatable to people from all walks of life.

Read the original article on Business Insider.

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By: tmohamed@insider.com (Theron Mohamed)
Title: Warren Buffett Jokes About Thanksgiving at McDonald’s Without the 2008 Bailouts
Sourced From: markets.businessinsider.com/news/stocks/warren-buffett-joked-thanksgiving-mcdonalds-without-2008-government-bank-bailout-2020-11-1029841591
Published Date: Thu, 23 Nov 2023 12:04:47 +0000