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Buffett: Fallout From Credit Crisis Not Over Yet

The fallout from the global credit crisis is not over yet, billionaire investor Warren Buffett said Monday.

Warren Buffett
Warren Buffett

"I'll talk about the United States. I don't think the effects of the credit crunch are far from over at all," he told a news conference in response to a question.

"I think there will be rippling secondary, tertiary effects ... It is really more an effect of the residential real estate bubble which led to the credit crunch in some degree," he said.