Charlie Munger, Buffett's Business Partner: 'Thank God' For Bailouts

09/20/2010 08:46 am ET | Updated May 25, 2011
  • Andrew Frye Bloomberg

"You should thank God" for bank bailouts, Munger said in a discussion at the University of Michigan on Sept. 14, according to a video posted on the Internet. "Now, if you talk about bailouts for everybody else, there comes a place where if you just start bailing out all the individuals instead of telling them to adapt, the culture dies."

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