Primarily, I found it interesting because of Buffett's involvement with the bailout and his inability to separate what is good for his business vs. what is good for the economy.
As the government swung into action, Mr. Buffett recalls, he gained confidence that the crisis would be resolved. A government guarantee of assets in money-market funds, which came days after the Reserve fund's troubles emerged, was a big step forward, he says.A big step forward for whom? Why do we ask an investor what is good for the economy? Was his answer unexpected? If I and many of my friends were going to lose money if money market funds crashed, wouldn't I also think it's a great idea to have the government 'fix' them?
This reminds me of a survey about health care on UC Berkeley's campus. A few years ago, some tried to institute a campus-wide health fee to expand student health care access (longer hours, etc.). Surveys allegedly showed that many were in favor of the fee. However, many of those in favor were graduate students like me, and a lot of us have all of our fees paid by our departments. Of course we were in favor. Who doesn't want free money?
Bottom Line: A) Short-term stock market health is not indicative of long-term economic health. B) Understand the underlying incentives of the person you are talking to.