--- title: "Meaning & Key Takeaway of: I think that they hoped the private…" description: "\"I think that they hoped the private sector would come in. And the private sector tried to come in until they saw the size of the problem. I mean, from ..." image: "https://sms4smile.com/quotes/i/93b/warren-buffett-183_ability_i-think-that-they-hoped-the-private-sect_359835.png" --- # I think that they hoped the private sector would come in… ![“I think that they hoped the private sector would come in. And the private sector tried to come in until they saw the size of the problem. I mean, from were people on that weekend that thought they'd had a solution. And then the hole kept getting bigger and bigger. And all of a sudden became…” quote by Warren Buffett](https://sms4smile.com/quotes/i/93b/warren-buffett-183_ability_i-think-that-they-hoped-the-private-sect_359835.png) [Download](https://sms4smile.com/quotes/i/93b/warren-buffett-183_ability_i-think-that-they-hoped-the-private-sect_359835.png) [Open image](https://sms4smile.com/quotes/i/93b/warren-buffett-183_ability_i-think-that-they-hoped-the-private-sect_359835.png) > “I think that they hoped the private sector would come in. And the private sector tried to come in until they saw the size of the problem. I mean, from were people on that weekend that thought they'd had a solution. And then the hole kept getting bigger and bigger. And all of a sudden became apparent that 20 billion wouldn't do it and 30 billion wouldn't do it and 40 billion wouldn't do it. So it got beyond anybody's ability to certainly to do it in a short period of time.” [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Large problems exceed private sector capacity; collective action and massive resources are needed. **In simple terms:** Big issues need big cooperation. Key Takeaway Seek collaborative solutions. Themes economics public policy scale Mood analytical pragmatic Type strategic informative When to use this quote - disaster relief - climate change - infrastructure projects Key Concepts systemic risk government intervention Questions to Reflect On - How can public-private partnerships improve? - What limits private sector involvement? A Different Perspective Private sector can still contribute with proper coordination. ★ ★ ★ ★ ★ No ratings yet [20 Billion](https://sms4smile.com/quotes/about/20-billion-885680/) [Ability](https://sms4smile.com/quotes/about/ability/) [Bigger](https://sms4smile.com/quotes/about/bigger/) [Billion Wouldn](https://sms4smile.com/quotes/about/billion-wouldn-3305906/) [Billions](https://sms4smile.com/quotes/about/billions/) [Holes](https://sms4smile.com/quotes/about/holes/) [Mean](https://sms4smile.com/quotes/about/mean/) [People](https://sms4smile.com/quotes/about/people/) [Periods](https://sms4smile.com/quotes/about/periods/) [Private sector](https://sms4smile.com/quotes/about/private-sector/) [Problem](https://sms4smile.com/quotes/about/problem/) [Saws](https://sms4smile.com/quotes/about/saws/) [Sector Come](https://sms4smile.com/quotes/about/sector-come-3305905/) [Sector Tried](https://sms4smile.com/quotes/about/sector-tried-3305904/) [Size](https://sms4smile.com/quotes/about/size/) [Solutions](https://sms4smile.com/quotes/about/solutions/) [Taxes](https://sms4smile.com/quotes/about/taxes/) [Thinking](https://sms4smile.com/quotes/about/thinking/) [Weekend](https://sms4smile.com/quotes/about/weekend/) ## Related quotes > [We've been in a recession, by any common sense definition, because if you look at the American public, they've got 20 billion - 20…](https://sms4smile.com/quotes/warren-buffett/we-ve-been-in-a-recession-by-any-common-sense-definition-because-if/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [ \[ Uncle Sam\] is not sending 20 billion dollars to South America because he loves those people down here. He's sending it - sending… ](https://sms4smile.com/quotes/malcolm-x/uncle-sam-is-not-sending-20-billion-dollars-to-south-america-because/) [Malcolm X](https://sms4smile.com/quotes/author/malcolm-x/) > [By 2013, we had 200 million people using 'Instagram' every month and over 20 billion photos stored.](https://sms4smile.com/quotes/mike-krieger/by-2013-we-had-200-million-people-using-instagram-every-month-and/) [Mike Krieger](https://sms4smile.com/quotes/author/mike-krieger/) > [ Why should \[Uncle Sam\] send 20 billion dollars down there \[South America\], which is going to go down the drain every time you have… ](https://sms4smile.com/quotes/malcolm-x/why-should-uncle-sam-send-20-billion-dollars-down-there-south-america/) [Malcolm X](https://sms4smile.com/quotes/author/malcolm-x/) > [We plan to spend 20 billion lari ($12 billion) from the budget in the next four years on implementation of all tasks presented in…](https://sms4smile.com/quotes/vano-merabishvili/we-plan-to-spend-20-billion-lari-12-billion-from-the-budget-in-the/) [Vano Merabishvili](https://sms4smile.com/quotes/author/vano-merabishvili/) > [I absolutely don't have $20 billion. But I'd love to, right?](https://sms4smile.com/quotes/jack-ma/i-absolutely-don-t-have-20-billion-but-i-d-love-to-right/) [Jack Ma](https://sms4smile.com/quotes/author/jack-ma/) > [It's crazy that in a country where schools are falling apart, we're spending $20 billion on nuclear weapons.](https://sms4smile.com/quotes/ben-cohen/it-s-crazy-that-in-a-country-where-schools-are-falling-apart-we-re/) [Ben Cohen](https://sms4smile.com/quotes/author/ben-cohen/) > [If this government can send 20 billion dollars to Latin America to some peasants who have never fought for this country or worked for…](https://sms4smile.com/quotes/malcolm-x/if-this-government-can-send-20-billion-dollars-to-latin-america-to/) [Malcolm X](https://sms4smile.com/quotes/author/malcolm-x/) > [ I think what people understand there probably - well, they were hoping the private sector would do it \[rescuing AIG \]. ](https://sms4smile.com/quotes/warren-buffett/i-think-what-people-understand-there-probably-well-they-were-hoping/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [“Private-sector preparedness is not a luxury; it is a cost of doing business in the post-9/11 world. It is ignored at a tremendous potential…](https://sms4smile.com/quotes/the-9-11-commission-report/private-sector-preparedness-is-not-a-luxury-it-is-a-cost-of-doing/) [The 9 11 Commission Report](https://sms4smile.com/quotes/author/the-9-11-commission-report/) > [The governments are seen to be less effective than they used to be. The private sector is perceived as being so much more efficient,…](https://sms4smile.com/quotes/mary-robinson/the-governments-are-seen-to-be-less-effective-than-they-used-to-be/) [Mary Robinson](https://sms4smile.com/quotes/author/mary-robinson/) > [The one thing that flies in the face of all human history and experience, is that the government can do a superior job than…](https://sms4smile.com/quotes/james-cook/the-one-thing-that-flies-in-the-face-of-all-human-history-and/) [James Cook](https://sms4smile.com/quotes/author/james-cook/) > [The government competes in the private sector the way an alligator competes with a duck.](https://sms4smile.com/quotes/mike-pence/the-government-competes-in-the-private-sector-the-way-an-alligator/) [Mike Pence](https://sms4smile.com/quotes/author/mike-pence/) > [Less than 8 percent of private sector workers belonged to a union in 2004, and, overall, only 12.5 percent of American workers carry a…](https://sms4smile.com/quotes/linda-chavez/less-than-8-percent-of-private-sector-workers-belonged-to-a-union-in/) [Linda Chavez](https://sms4smile.com/quotes/author/linda-chavez/) > [Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.](https://sms4smile.com/quotes/alan-greenspan/crony-capitalism-is-essentially-a-condition-in-which-public-officials/) [Alan Greenspan](https://sms4smile.com/quotes/author/alan-greenspan/) ## More by Warren Buffett > [To invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual…](https://sms4smile.com/quotes/warren-buffett/to-invest-successfully-over-a-lifetime-does-not-require-a/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [“Be fearful when others are greedy, and be greedy when others are fearful.”](https://sms4smile.com/quotes/warren-buffett/be-fearful-when-others-are-greedy-and-be-greedy-when-others-are/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Making money isn't the backbone of our guiding purpose; it is the by-product of our guiding purpose.](https://sms4smile.com/quotes/warren-buffett/making-money-isn-t-the-backbone-of-our-guiding-purpose-it-is-the-by/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [We set no volume goals in our insurance business generally-and certainly not in reinsurance-as virtually any volume can be achieved if profitability standards are…](https://sms4smile.com/quotes/warren-buffett/we-set-no-volume-goals-in-our-insurance-business-generally-and/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Everybody's got a different circle of competence. The important thing is not how big the circle is. The important thing is staying inside the…](https://sms4smile.com/quotes/warren-buffett/everybody-s-got-a-different-circle-of-competence-the-important-thing/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [It is better to point out your own mistakes than have somebody else do it.](https://sms4smile.com/quotes/warren-buffett/it-is-better-to-point-out-your-own-mistakes-than-have-somebody-else/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I've read about all the sales today. If you're an auto dealer, you're feeling it. If you're a furniture retailer like we are, you're…](https://sms4smile.com/quotes/warren-buffett/i-ve-read-about-all-the-sales-today-if-you-re-an-auto-dealer-you-re/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I was lucky enough to be born in a time and place where society values my talent, and gave me a good education to…](https://sms4smile.com/quotes/warren-buffett/i-was-lucky-enough-to-be-born-in-a-time-and-place-where-society/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to…](https://sms4smile.com/quotes/warren-buffett/the-most-common-cause-of-low-prices-is-pessimism-some-times-pervasive/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The reaction of weak management to weak operations is often weak accounting.](https://sms4smile.com/quotes/warren-buffett/the-reaction-of-weak-management-to-weak-operations-is-often-weak/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [What you really want to do in investments is figure out what's important and knowable. If it's unimportant or unknowable you forget about it.](https://sms4smile.com/quotes/warren-buffett/what-you-really-want-to-do-in-investments-is-figure-out-what-s/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I don't measure my life by the money I've made. Other people might, but certainly don't.](https://sms4smile.com/quotes/warren-buffett/i-don-t-measure-my-life-by-the-money-i-ve-made-other-people-might-but/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [I mean the truth is, I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've…](https://sms4smile.com/quotes/warren-buffett/i-mean-the-truth-is-i-ve-never-had-it-so-good-in-terms-of-taxes-i-am/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the…](https://sms4smile.com/quotes/warren-buffett/the-most-important-quality-for-an-investor-is-temperament-not/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) > [Investors, of course, can, by their own behavior make stock ownership highly risky. And many do. Active trading, attempts to "time" market movements, inadequate…](https://sms4smile.com/quotes/warren-buffett/investors-of-course-can-by-their-own-behavior-make-stock-ownership/) [Warren Buffett](https://sms4smile.com/quotes/author/warren-buffett/) [Explore all 984 Warren Buffett quotes ](https://sms4smile.com/quotes/author/warren-buffett/) ## More Ability quotes > [I don't think there's a direct correlation between my sexuality and my skiing ability. But I think because I was so concerned about it…](https://sms4smile.com/quotes/gus-kenworthy/i-don-t-think-there-s-a-direct-correlation-between-my-sexuality-and/) [Gus Kenworthy](https://sms4smile.com/quotes/author/gus-kenworthy/) > [“the importance of ability. The things that make a great job great, I discovered, are rare and valuable. If you want them in your…](https://sms4smile.com/quotes/cal-newport/the-importance-of-ability-the-things-that-make-a-great-job-great-i/) [Cal Newport](https://sms4smile.com/quotes/author/cal-newport/) > [Ambition drives you on, ability certainly helps, but the fickle finger of fate and luck are great things.](https://sms4smile.com/quotes/fergus-henderson/ambition-drives-you-on-ability-certainly-helps-but-the-fickle-finger/) [Fergus Henderson](https://sms4smile.com/quotes/author/fergus-henderson/) > [The ability of the gospel to unite us on common strengths and common truths is one of the great miracles . . . of the gospel.](https://sms4smile.com/quotes/jeffrey-r-holland/the-ability-of-the-gospel-to-unite-us-on-common-strengths-and-common/) [Jeffrey R. Holland](https://sms4smile.com/quotes/author/jeffrey-r-holland/) > [Maybe law enforcement would like the ability to turn on the camera on your Mac.](https://sms4smile.com/quotes/tim-cook/maybe-law-enforcement-would-like-the-ability-to-turn-on-the-camera-on/) [Tim Cook](https://sms4smile.com/quotes/author/tim-cook/) > [I've seen guys come along with more ability - they've been faster or bigger or stronger - but they never worked hard to develop…](https://sms4smile.com/quotes/steve-largent/i-ve-seen-guys-come-along-with-more-ability-they-ve-been-faster-or/) [Steve Largent](https://sms4smile.com/quotes/author/steve-largent/) > [The youth of India has the strength to move the entire World with a click of a mouse, we have generated that ability!](https://sms4smile.com/quotes/narendra-modi/the-youth-of-india-has-the-strength-to-move-the-entire-world-with-a/) [Narendra Modi](https://sms4smile.com/quotes/author/narendra-modi/) > [Time hath not yet so dried this blood of mine, Nor age so eat up my invention, Nor fortune made such havoc of my…](https://sms4smile.com/quotes/william-shakespeare/time-hath-not-yet-so-dried-this-blood-of-mine-nor-age-so-eat-up-my/) [William Shakespeare](https://sms4smile.com/quotes/author/william-shakespeare/) > [An absolutely necessary part of a writer's equipment, almost as necessary as talent, is the ability to stand up under punishment, both the punishment…](https://sms4smile.com/quotes/irwin-shaw/an-absolutely-necessary-part-of-a-writer-s-equipment-almost-as/) [Irwin Shaw](https://sms4smile.com/quotes/author/irwin-shaw/) > [I'd be more frightened by not using whatever abilities I'd been given. I'd be more frightened by procrastination and laziness.](https://sms4smile.com/quotes/denzel-washington/i-d-be-more-frightened-by-not-using-whatever-abilities-i-d-been-given/) [Denzel Washington](https://sms4smile.com/quotes/author/denzel-washington/) > [Bring into captivity every thought to the obedience of Christ. 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