warren buffet on the bailout.

QUICK: One of the things we’d like to get straight to…is what you see happening in the economy right now. We’ve been talking to you for some time about what you see as some significant problems in the economy. And, from your perspective, have things gotten any better? Have they gotten any worse?

Mr. BUFFETT: No, they’ve rippled out some, and that’s what you’d expect. So the excesses in credit, the deleveraging that was required, the weak credits that are exposed, all that is–we’re seeing manifestations out as the ripples go out, and I think I said one time that, you know, you only find out who’s been swimming naked when the tide goes out. Well, we found out that Wall Street has been kind of a nudist beach.