Berkshire Hathaway has owned banks from early on in Buffett's long investing history, and he's stepped up to inject confidence into lenders several times.
The fear of regular Americans that they could, combined with the ease of mobile banking, could lead to more bank runs. Meanwhile, Buffett said that he keeps his personal funds at a local institution, and isn't worried despite exceeding the threshold for FDIC coverage.
"The messaging has been very poor, it's been poor by the politicians who sometimes have an interest in having it poor," he said. "It's been poor by the agencies, and it's been poor by the press."Buffett also turned his ire on bank executives who took undue risks, saying that there should be "punishment" for bad behavior. Some bank executives may have sold company stock because they knew trouble was brewing, he added.
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