“"We will never become dependent on the kindness of strangers," Mr. Buffett wrote. "Too-big-to-fail is not a fallback position at Berkshire," a reference to large financial institutions bailed out by the government after suffering billions in losses. The investor boasted how Berkshire, fueled by its vast cash stockpile and protected by its aversion to excessively risky bets, was able to pump cash into the financial system during the heat of the crisis. Berkshire "was a supplier of liquidity and capital to the system, not a supplicant," he wrote. ”
