During his interview with the FCIC back in May 2010, Warren Buffett and his interviewer got into a chat about Andrew Ross Sorkin’s book, Too Big To Fail.
Huge hat tip to Santangel’s Review for transcribing the whole interview.
The interviewer asks the Oracle which books on the financial crisis he’s read and enjoyed. He says Sorkin’s is great.
But then he makes his own pitch for a book:
The book I would write if I was in the writing business… I would write a fictional book and my book would probably be titled something like, “If Ken Lewis Hadn’t Answered The Phone,” and then I would go from there forward with Merrill falling on Monday and describing what the world would have looked like. It’d be a hell of a book. (laughs) I’m not sure what the ending would be but, you know, he got that call on Saturday, he gets a fairness opinion in 24 hours from two guys who are getting $10 million each.
Is the fairness buy Merrill Lynch at $29 a share, I mean… Chris Flowers and another firm that is affiliated with Chris Flowers. And do you think Chris Flowers would have paid $29 or $2.90 for Merrill Lynch on Sunday? (laughs). You know, it’s an interesting world, but it may have saved the system some terrible. May have actually saved the system…
And just so the interviewer was aware, Buff didn’t “expect any royalties.”