"Amid US Economic Crisis Buffett Invests In Europe?"

Warren Buffett is the richest man on the planet.

Riding the surging price of Berkshire Hathaway (nyse: BRK - news - people ) stock, America's most beloved investor has seen his fortune swell to an estimated $62 billion, up $10 billion from a year ago. That massive pile of scratch puts him ahead of Microsoft (nasdaq: MSFT - news - people ) co-founder Bill Gates, who was the richest man in the world for 13 straight years.

US investor Warren Buffett said yesterday the US dollar would continue to fall as the policies needed to correct the greenback's slide had yet to be implemented.

Until there is a major change in policy, the dollar's slide will continue, he told a news conference.

Blame for the sub-prime crisis lies at the feet of banks who took too many risks in mortgage lending, U.S. billionaire investor Warren Buffett told newspaper El Pais in an interview published on Sunday.

"The banks exposed themselves too much, they took on too much risk .... It's their fault. There's no need to blame anyone else," he said.

Buffett, dubbed the world's richest person by Forbes magazine, said he believed the situation in financial markets would not deteriorate further.

"I don't think the situation will get worse in financial markets. General conditions in the business world will get worse, but it will only last a while," he said, adding he had no idea when an upturn would come.

Buffett gave the interview on a recent visit to Madrid, as part of a European tour including Switzerland, Germany, Italy and Spain on the look out for new investments.

He said the idea of the trip was to increase awareness amongst European businesses of his holding company Berkshire Hathaway Inc (BRKa.N), which holds stakes in businesses ranging from American Express Co (AXP.N) to Coca-Cola Co (KO.N).

He said he wanted business owners to think of him when they were looking to sell.

"We want to buy big companies that earn at least 50 million euros ($78.6 million) before taxes, and there's more of those in Europe than in other parts of the world," he said.

He would not be drawn on what companies in particular he was looking at, other than saying he was not interested in distressed businesses.

The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday.

He said the United States was "already in recession" and added: "Perhaps not in the sense that economists would define it" with two consecutive quarters of negative growth.

"But the people are already feeling the effects," said Buffett, the world's richest man. "It will be deeper and last longer than many think."

But he said that won't stop him from investing in selected companies and said he remained interested in well-managed German family-owned companies.

"If the world were falling apart I'd still invest in companies," he said.

Billionaire investor Warren Buffett said on Tuesday he supports both Hillary Clinton and Barack Obama for U.S. president, and will continue to hold fundraisers for each of them until the Democratic Party candidate is set.

The Berkshire Hathaway chief told both Clinton and Obama he would back them before they launched their competing presidential bids, putting him in an awkward position once they both decided to run.

"I have been supporting both of them ever since. I will be very happy if either one of them is president of the United States," he said at a news conference in Switzerland, where he is seeking businesses for his investment company to acquire.

"I think they are outstanding candidates and both would make outstanding presidents," he said of the two Democrats competing to face Republican John McCain in the November presidential election.

    Warren Buffett, the richest man in America and the world, has earned money for himself and  many other investors who follow his advice and lead, through hard work and shrewd business acumen. However, even though he recognizes that America is in a severe economic crisis, he is in Europe looking for businesses to invest in. In my opinion, that sucks! Why can't Mr. Buffett use his billions of dollars  and his influence over other wealthy investors to invest in manufacturing companies or bright alternative energy companies, here in America? Why can't he use his considerable influence to persuade wealthy European investors to invest in America, especially since euros are worth more than our currently weak dollar? Don't get me wrong, I am not an "isolationist". We live now in a global economy, whether we like it or not. I believe that "free trade" is good for America, as long as "free trade" is good for both America and the other country or countries we are trading with. Despite Mr. Buffett's magnanimous endorsement of Barack Obama and Hillary Clinton, I hope the next President and Congress will find a way to heavily tax the profits of Mr. Buffett and others investing in European businesses when America is in a recession. Payback is hell, Mr. Buffett.

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