Warren Buffet “joyful” of Bin Laden’s demise

In an interview with CNBC, Berkshire Hathaway’s Warren Buffett said he felt good when he learned of the news that terrorist leader Osama Bin Laden had been killed by US Navy Seals in an affluent Pakistani city.

“It was joy,” he told CNBC’s Squawk Box as he remembered his outrage in September 2001 when America’s Most Wanted ordered simultaneous attacks against key American installations that resulted to almost 3,000 deaths, the worst-ever domestic attack in US history.

He still warns, though, that despite the Al-Qaeda leader’s death, terrorism will never go away anytime soon. But he said he always had faith in the ability of the country to accomplish anything it sets its mind into.

Going to the US economy, he says growth has been steady these past months and believes residential construction will make a comeback, which will be a reflection of the improved broader economy.

He also suggested that in the midst of rising oil prices, the best way to possibly deal with it is less consumption. He also reiterated his pessimism with the long-term position of the US dollar and hinted he’s not betting on it against foreign currencies.

Regarding the David Sokol scandal, Buffett believes Sokol’s trading practices was “wrong” and explained that the reason why he didn’t show any “outrage” at that time was because he thought his displeasure was already evident when he didn’t retain Sokol’s services with Berkshire.

He admits that his original news release on the Sokol scandal came off badly because at that time he thought it was already “ruthless” even though most people thought it wasn’t.

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