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Right. I think Buffett talked about this only because it explains why Clayton Homes won't be able to lend as much in the near future. Buffett obviously thinks t
by sqs 18y ago
Right. I think Buffett talked about this only because it explains why Clayton Homes won't be able to lend as much in the near future. Buffett obviously thinks the bailout was best for the country and for Berkshire in the long run, but he had to explain these numbers to shareholders (from the table on page 11/12 of the 2008 letter):
Pre-Tax Earnings (millions)
2008 2007
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Manufactured-housing finance .... 206 526