Sep 25, 2008

T. Boone Pickens on the $700 billion Paulson bailout plan

Q: The secretary of the treasury wants all the money up front. The government wants safeguards on it. They want to make sure there's protection for taxpayers. They want to limit executive compensation. Are you on board with all that?

A: I'm ready to go. I'd give [Treasury Secretary Henry] Paulson the money and tell him get it fixed.

Q: You believe that his plan will work?

A: I think it will work, yes. But I think it needs to work quickly. I think you've got to move on with it. I liked Warren Buffett's play into Goldman Sachs.

Q: Five billion dollars the other day.

A: That's right. That showed good confidence and all. So that's another leadership opportunity.

~ T. Boone Pickens, "Pickens: Natural gas, Warren Buffett could ease nation's woes,", September 25, 2008

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