Buffett: Bank Woes Are "Poetic Justice" For Brewing "Toxic Kool-A

But he warned that the U.S. dollar will continue to slide unless the country can rein in its yawning trade deficit -- the "biggest factor" behind the decline. Still, he said, the U.S. economy will "do very well over time." Buffett, one of the world's wealthiest people, appeared to see irony in the fact that many of the banks who marketed complex investments which have now crashed are bearing much of the fallout. "It's sort of a little poetic justice, in that the people that brewed this toxic Kool-Aid found themselves drinking a lot of it in the end," he said. Buffett, a legendary investor who has amassed a huge fortune through plays in a wide range of industries, has bet against the U.S. dollar in the past. In 2005, Berkshire had made a $21.8 billion bet that the U.S. dollar would fall. It later unwound that successful position as it found other non-U.S. investments. ... http://www.reuters.com/article/businessNews/idUSN0631767220080207?feedType=RSS&feedName=businessNews

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