Buffett, when asked about the recent tumult that led to the collapse of three mid-sized institutions since March, launched into a lengthy diatribe about the matter.
In the early 1990s, Buffett served as CEO of Salomon Brothers, helping rehabilitate the Wall Street firm's tattered reputation.
The core problem, as Buffett sees it, is that the public doesn't understand that their bank deposits are safe, even those that are uninsured.
Meanwhile, Buffett said that he keeps his personal funds at a local institution, and isn't worried despite exceeding the threshold for FDIC coverage.
"The messaging has been very poor, it's been poor by the politicians who sometimes have an interest in having it poor," he said.