Buffet is right:
"I bet they'll make a profit," said Buffett, who pointed out that hedge funds specialising in junk assets were already picking up mortgage-related securities with a view to making profits of 15% to 20%. He said a positive return was feasible if the government ignores the book value of instruments or the original cost to banks and instead pays the prevailing market rates for the bombed out assets. Banking crisis: Warren Buffett sees US bailout as a golden opportunity
The unfortunate part of it is, is that the members of the Bush Administration share the same mind set as those in financial industry that got us into this mess: short term profit and greed. Buffet invests for the long-term and looks for value. He practices capitalism the way it was meant to be practiced.