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Buffett: Banks Going To Get Squeezed Bit On Interest Margin -CNBC

Date : 05/04/2012 @ 7:27AM
Source : Dow Jones News
Stock : Bank of America Corp. (BAC)
Quote : 17.44  0.18 (1.04%) @ 2:16PM
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Buffett: Banks Going To Get Squeezed Bit On Interest Margin -CNBC

Wells Fargo (NYSE:WFC)
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Berkshire Hathaway Corp. (BRKA, BRKB) CEO Warren Buffett said in a brief interview aired Friday on CNBC that "banks are going to get squeezed a bit on interest margin." Buffett said however banks no longer bear any resemblance to four years ago -- "they have the balance sheets, they have a lot more equity." Buffett, whose firm owns large stakes in Wells Fargo & Co. (WFC) and Bank of America Corp. (BAC), said he didn't think the first quarter would be Wells' best quarter, while acknowledging that of course he doesn't know the numbers.

Full story at www.cnbc.com

-Dow Jones Newswires; 212-416-2900



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