Berkshire’s 2023 annual shareholder meeting transcript — Q&A Part 1
Becky: The first question comes from Randy Jeffs in Irvine, California. His question is: if Silicon Valley Bank’s deposit had not been fully covered, what do you think the economic consequences would have been to the nation?
Warren: I just simply say it would have been catastrophic, and that’s why they were covered. Even though the FDIC limit is 250 thousand dollars, that's what the statute reads. That is not the way the US is going to behave. Any more than they’re going to let the debt ceiling cause the world to go into turmoil. I can’t imagine anybody in the administration, Congress, or the Federal Reserve, whatever it may have been. I can’t imagine anybody saying, “I’d like to be the one on television tomorrow and explain to the American public why we’re keeping only 250 thousand dollars insured and we are going to start around every bank in the country and disrupt the world financial system.” I think it was inevitable. Charlie, do you have any?
Charlie: No, I have nothing to add.
Warren: Okay. Well. Incidentally, I should mention this now. Ajit and Greg will be here in the morning session, which ends at noon. So, if you’ve got questions to direct to them, the time to do it is in the first half of the show. After lunch, it’ll just be Charlie, and I will be back. Okay. Area one?
Nirav Patel (Haverhill, Massachusetts): Mr. Buffett, Mr. Munger It seems like you…
