Warren Buffett, the much revered Omaha investor, told his company’s shareholders this weekend that he’d love to own all of Wells Fargo and US Bancorp if regulations allowed him to do so, CNBC reports.
Buffett’s Berkshire Hathaway owns a significant stake in both banks. In order to completely own them, however, Buffett said his company would need to become a bank holding company.
The Twin Cities banks are in great shape, Buffett said. He singled out Wells Fargo in particular, calling it a “fabulous” bank that will be better off in a couple of years than if the financial crisis hadn’t occurred.