Buffett Suggests Edwards Supporters File Class Action Suit

By C. Edmund Wright

In an interview on CNBC's "Squawk Box," billionaire Warren Buffett suggested that donors to the John Edwards for President Campaign might consider filing a class action lawsuit. "I think if I had given him money I'd probably be asking him for it back now" quipped the investor icon in a half serious, half joking manner. "I think if I were Edwards I might give up a haircut or two and return some of the money....if they (donors of the smaller amounts) had known the facts they wouldn't have sent him the money."

Video here.

Buffett's main problem with Edwards was the fact that he continued to solicit contributions long after he knew the story of the affair would eventually prevent any chance of him occupying the Oval Office. "Edwards was essentially soliticing money from people to further his ambitions to become President," said the billionaire. "He knew that in effect he wouldn't be elected president....he knew the story was out there. It might be kind of interesting if some contributor would bring a class action suit on behalf of people who were led to send money to a man under false pretenses."

Buffett and interviewer Becky Quick in fact chuckled at the irony of filing a class action suit against a trial lawyer. "I've seen a lot of class action suits with less to it," said Buffett. "I would think it might be a pretty good class action suit. He knew it and didn't tell them the truth. They sent it in while they were being misled by the person who was soliciting the money."

Buffett, who seemed to warm to the idea of the suit as he discussed it, did end the segment by stating that his musing was not the result of any rumors he had heard or inside information. "I don't think I've heard of that (among DNC staffers)...and I don't talk to a lot of class action lawyers. I think those people (donors) were defrauded."

Buffett, who is supporting Obama, was not asked if he was prepared to begin speaking to a lot of "class action lawyers" if Obama and more liberal Democrats were in fact elected this fall.