Gang, The Warren Buffett interview clips are below!
David Asman and I spoke with Warren Buffett this afternoon on Fox Business not only about his $5 billion dollar investment in Goldman Sachs (GS) preferred shares but about the urgency of the U.S. financial crisis.
To say that Buffett, Chairman and CEO of Berkshire Hathaway (BRK) feels this needs to get pushed through quickly is an understatement. He noted that short-term Treasurys and the LIBOR rate are all screaming out that there are deep fissures in the debt market right now that threaten to crack right under our feet. Lending is drying up very quickly . When I asked what might happen if the $700 billion dollar rescue plan failed to pass, he said, "Heaven help us." When the world's richest man explains the situation like that, you get the sense he's extremely worried... not the word I would have ever used to describe the usually optimistic Buffett.
He also said that if the deal doesn't pass, he probably would regret having made such a hefty investment in Goldman. But he also stressed that he does NOT believe that Goldman would have failed without his cash infusion. He doesn't like investing in companies that would go down without his money going in. He's been approached by many financial institutions for help but only extended to Goldman. He categorically said his investment is a bet not on the market as a whole, but on Goldman Sachs.
Madam Speaker,
It is with respect that I as an American citizen request that you respectfully recognize that you have single handedly wrecked this economy and resign your position as Speaker of the House. Since you have been Speaker of the House the American Dollar has declined against the Euro and all other world currencies which has caused prices to go up and economy to go down. Your lack of leadership has drawn our nation to the brink of disaster, and I don't think you really recognize your errors or care about our country.
Scott
September 26, 2008 at 10:59 pm
Allen
I don't get why everybody has so much faith in Warren Buffett. He didn't get that rich by looking out for the common man. He is looking to take care of himself. He has the same business philosophy as Kemmons Wilson. Buy business that make money but need a little help. It doesn't make him a Wall Street Grue. Just a smart business man.
If he was a Republican he would be treated as greedy,heartless and a opportunist.
September 26, 2008 at 3:37 pm
Larry McElhinney
Buffet is little more than an accomplished thief. Anyone who promotes a taxpayer bailout of wall street fat cats is no friend of Freedom.
September 26, 2008 at 3:01 pm
jeanie
Buffett is a internationalist and a Democrat he knows he will get his money he is just another pillarger of the American Middle class
September 26, 2008 at 2:19 pm
Sladebelly
Paulson is the ex head of Goldman. Buffet talks to Paulson before investing in Goldman. Goldman will benefit greatly from the 700 billion bailout. Hmmm yeah Warren is very objective here.
September 26, 2008 at 2:13 pm
Ted B
He is a smart man, but he does not walk on water so he can be wrong. He is pushing a plan that will only benefit him, if it goes through!
September 26, 2008 at 1:25 pm
SZ
Why not take Iraq's billions of dollars in surplus and use it to help fix this problem? Better yet, why not distribute it to American families who helped finance the war with their tax money?
September 26, 2008 at 12:17 pm
Tyranny
"heaven help us" - meaning "us" as in big business.
Heaven Help Us (the taxpayer) if the Bail-Out IS PASSED!
Bail-out = Bad dcade for American Citizens.
No Bail-Out = bad year or two for everyone.
NO BAIL-OUT!!!!!!!!!
September 26, 2008 at 11:44 am
k
I usually look for insight when I am reading political articles. Unfortunately, I read this one.
September 26, 2008 at 7:18 am
Kevin
Aren't we due for a depression soon? If this is part of a 70-80 year cycle it should be
happening again. So what if we have a depression, then what?
I don't want to see it but it may happen, are people ready?
September 25, 2008 at 5:25 pm
HToad
Buffet is an atheist, so when even he says "heaven help us" you know things are bad.
September 25, 2008 at 4:09 pm
Kris
I think America should start from a clean drawing board. We were a good manufacturing and engineering country. We have PhD's who do great research and sell it for pennies. The PhD's in Finance will soon start looking for jobs in the manufacturing world, and boy will the bonuses shock the hell out of these blokes. The whole thing looks like a pyramid scheme, starting with money multipliers, american dream (home ownership), and finally the CDS! Did anybody backtest ARM and homeowner physchology? Next time a bank asks you how much you make, dont tell, and hide your money!
September 25, 2008 at 2:08 pm
John Dale Barro
I trust the judgement of Warren Buffett 100%. He is the world's greatest investor and his integrity in intact and unwavering. I have been wanting to see a full interview of him on the internet since the commencement of this financial fiasco and this is the first time I've seen it. Congratulations to Foxnews. In my my thoughts kept lingering, "What would Warren say?" Now that we have heard from him, I would boldly say that we should heed from his advice so all of us may get some pretty good sleep with our hard-earned money and investments in the banks.
September 25, 2008 at 11:52 am
foxxy
Hey why dont they send me a check for $100,000?? Then I wont have to work anymore...just like these fools on walstreet want..they are only worried about themselves...i say strip them of all their assetts, live on $40,000 a year and pay for medical etc...then tell me, "How you like it now??" Aszholes! NO BAILOUT! I will live i the woods before I give these jerks one penny of my hard earned money...let them go without then we can talk...
September 25, 2008 at 11:11 am
MIKE PIZZI
WARREN BUFFET IS A SMART GUY AND DOESNT USUALLY MAKE INVESTMENT MISTAKES IF HE FEELS GOLDMAN IS WORTH THE CASH AND THE MARKET WILL REBOUND HE IS PROBABLY ON THE MONEY. I AGREE WITH GERRY DETTORE ABOUT CODY TELL HIM TO DIAL IT BACK A FEW NOTCHES HE IS GETTING TO BE TOO MUCH.
September 25, 2008 at 9:28 am
TexasHorns
How much do you suppose that Warren Buffet already had in Goldman? He offered his own bailout with very favorable terms and they jumped on it.
Any word from T Boone Pickens or Bill Gates...? Can you spare a few Billion?
How did this do nothing congress get us to this point and not one word from the DEMs about their pushing Fannie & Freddie into sub-prime mortgages or blocking Dole's bill on fed housing regulatory reform act (co-sponsored by McCain) - instead guys like Chris Dodd, broker of the Fannie deal in 1999 & #1 recipient of $$$$ from Fannie & Freddie is chairing the commission. Or how about ASLEEP AT THE WHEEL - Barney Frank. WHAT NERVE TO BLAME GOP & BUSH ON THIS ONE.
September 25, 2008 at 12:19 am
Sanjay
Like his scenario on the Treasury being 5 basis points away from giving money away for free, the Sage of Omaha will similarly give out advice for free just to ensure that he gets his own money back. But hey, can you blame him? Congress and the public have a right to be angry, but they'd better deal with the immediate situation first, rather than sit around pointing fingers over who got us here. The pursuit of justice can come later -- and will, as the loss in confidence in the dollar drives up inflation. But for now, it's time to salvage the immediate situation.
September 24, 2008 at 7:54 pm
Richard Bowen
Buffet is the one person that I would take at face value on this subject. The 5 Billion he invested in Goldman is nothing compared to the personal fortune that he has donated to Charity. His life style has not been one of over consumption like many of the rich. When he says that it needs to get passed or "Heaven Help Us" you can be pretty sure he is speaking about the state of the nation's economy and its impact upon all of us.
September 24, 2008 at 7:51 pm
Allen V
You guys mislead with your attribution. He responds "heaven help us" if congress does nothing. He does not specifically advocate the $700 Billion dollar bailout anywhere. Notice the creative quoting in the bold type.
September 24, 2008 at 7:25 pm
gerry Dettore
Liz, I don't believe that many of those house and senate members just don't get it. I have no idea how they got on these finance committees. they continue to ask the same questions which tells me they don't understand the answers. How can we expect to put the fate of economy in their hands without a disaster. I would also like you to take to management the dissatisfaction that many viewers I know have with this Cody Willard.He is nothing but a loud mouth who intereupts everyone and shows no respect for others opinions and we arte all tired of hearing about the government taking his mother and fathers money. He looks like he is doing ok, maybe he should help them out a little. I think that you and eric and alexis are the most knowledgeable and level headed of th the gang. Thanks for trying to keep it all together.
September 24, 2008 at 5:46 pm
Steven Allen
Nice to see Mr. Buffett worried about the U.S. Taxpayer by recommending this bailout package get passed.
Or could he be throwing his influence around only because he just dumped $5b into Goldman and wants to make sure it doesn't go bye-bye?
Hmm. One would like to believe in the good soul of the elderly gentlemen. Problem is, I don't trust what anyone says right now.
September 24, 2008 at 5:36 pm
Justin
The title should be rephrased, "heaven help my five billion dollar investment in Goldman if the bailout fails to pass." I guess I'm just a tad jaded. It's an awful thing too with me being only 19. Watching this once great nation and the dreams of our founding fathers disappear before my very eyes is such a shame.
http://cody.blogs.foxbusiness.com/2008/09/24/i-against-i-is-warren-buffett-now-part-of-the-illuminati/
September 24, 2008 at 5:16 pm
aboutthis blog
Liz Claman joined FOX Business Network (FBN) as an anchor in October 2007. Her debut included an exclusive interview with Berkshire Hathaway CEO and legendary investor Warren Buffett.
Scott
Madam Speaker, It is with respect that I as an American citizen request that you respectfully recognize that you have single handedly wrecked this economy and resign your position as Speaker of the House. Since you have been Speaker of the House the American Dollar has declined against the Euro and all other world currencies which has caused prices to go up and economy to go down. Your lack of leadership has drawn our nation to the brink of disaster, and I don't think you really recognize your errors or care about our country. Scott
Allen
I don't get why everybody has so much faith in Warren Buffett. He didn't get that rich by looking out for the common man. He is looking to take care of himself. He has the same business philosophy as Kemmons Wilson. Buy business that make money but need a little help. It doesn't make him a Wall Street Grue. Just a smart business man. If he was a Republican he would be treated as greedy,heartless and a opportunist.
Larry McElhinney
Buffet is little more than an accomplished thief. Anyone who promotes a taxpayer bailout of wall street fat cats is no friend of Freedom.
jeanie
Buffett is a internationalist and a Democrat he knows he will get his money he is just another pillarger of the American Middle class
Sladebelly
Paulson is the ex head of Goldman. Buffet talks to Paulson before investing in Goldman. Goldman will benefit greatly from the 700 billion bailout. Hmmm yeah Warren is very objective here.
Ted B
He is a smart man, but he does not walk on water so he can be wrong. He is pushing a plan that will only benefit him, if it goes through!
SZ
Why not take Iraq's billions of dollars in surplus and use it to help fix this problem? Better yet, why not distribute it to American families who helped finance the war with their tax money?
Tyranny
"heaven help us" - meaning "us" as in big business. Heaven Help Us (the taxpayer) if the Bail-Out IS PASSED! Bail-out = Bad dcade for American Citizens. No Bail-Out = bad year or two for everyone. NO BAIL-OUT!!!!!!!!!
k
I usually look for insight when I am reading political articles. Unfortunately, I read this one.
Kevin
Aren't we due for a depression soon? If this is part of a 70-80 year cycle it should be happening again. So what if we have a depression, then what? I don't want to see it but it may happen, are people ready?
HToad
Buffet is an atheist, so when even he says "heaven help us" you know things are bad.
Kris
I think America should start from a clean drawing board. We were a good manufacturing and engineering country. We have PhD's who do great research and sell it for pennies. The PhD's in Finance will soon start looking for jobs in the manufacturing world, and boy will the bonuses shock the hell out of these blokes. The whole thing looks like a pyramid scheme, starting with money multipliers, american dream (home ownership), and finally the CDS! Did anybody backtest ARM and homeowner physchology? Next time a bank asks you how much you make, dont tell, and hide your money!
John Dale Barro
I trust the judgement of Warren Buffett 100%. He is the world's greatest investor and his integrity in intact and unwavering. I have been wanting to see a full interview of him on the internet since the commencement of this financial fiasco and this is the first time I've seen it. Congratulations to Foxnews. In my my thoughts kept lingering, "What would Warren say?" Now that we have heard from him, I would boldly say that we should heed from his advice so all of us may get some pretty good sleep with our hard-earned money and investments in the banks.
foxxy
Hey why dont they send me a check for $100,000?? Then I wont have to work anymore...just like these fools on walstreet want..they are only worried about themselves...i say strip them of all their assetts, live on $40,000 a year and pay for medical etc...then tell me, "How you like it now??" Aszholes! NO BAILOUT! I will live i the woods before I give these jerks one penny of my hard earned money...let them go without then we can talk...
MIKE PIZZI
WARREN BUFFET IS A SMART GUY AND DOESNT USUALLY MAKE INVESTMENT MISTAKES IF HE FEELS GOLDMAN IS WORTH THE CASH AND THE MARKET WILL REBOUND HE IS PROBABLY ON THE MONEY. I AGREE WITH GERRY DETTORE ABOUT CODY TELL HIM TO DIAL IT BACK A FEW NOTCHES HE IS GETTING TO BE TOO MUCH.
TexasHorns
How much do you suppose that Warren Buffet already had in Goldman? He offered his own bailout with very favorable terms and they jumped on it. Any word from T Boone Pickens or Bill Gates...? Can you spare a few Billion? How did this do nothing congress get us to this point and not one word from the DEMs about their pushing Fannie & Freddie into sub-prime mortgages or blocking Dole's bill on fed housing regulatory reform act (co-sponsored by McCain) - instead guys like Chris Dodd, broker of the Fannie deal in 1999 & #1 recipient of $$$$ from Fannie & Freddie is chairing the commission. Or how about ASLEEP AT THE WHEEL - Barney Frank. WHAT NERVE TO BLAME GOP & BUSH ON THIS ONE.
Sanjay
Like his scenario on the Treasury being 5 basis points away from giving money away for free, the Sage of Omaha will similarly give out advice for free just to ensure that he gets his own money back. But hey, can you blame him? Congress and the public have a right to be angry, but they'd better deal with the immediate situation first, rather than sit around pointing fingers over who got us here. The pursuit of justice can come later -- and will, as the loss in confidence in the dollar drives up inflation. But for now, it's time to salvage the immediate situation.
Richard Bowen
Buffet is the one person that I would take at face value on this subject. The 5 Billion he invested in Goldman is nothing compared to the personal fortune that he has donated to Charity. His life style has not been one of over consumption like many of the rich. When he says that it needs to get passed or "Heaven Help Us" you can be pretty sure he is speaking about the state of the nation's economy and its impact upon all of us.
Allen V
You guys mislead with your attribution. He responds "heaven help us" if congress does nothing. He does not specifically advocate the $700 Billion dollar bailout anywhere. Notice the creative quoting in the bold type.
gerry Dettore
Liz, I don't believe that many of those house and senate members just don't get it. I have no idea how they got on these finance committees. they continue to ask the same questions which tells me they don't understand the answers. How can we expect to put the fate of economy in their hands without a disaster. I would also like you to take to management the dissatisfaction that many viewers I know have with this Cody Willard.He is nothing but a loud mouth who intereupts everyone and shows no respect for others opinions and we arte all tired of hearing about the government taking his mother and fathers money. He looks like he is doing ok, maybe he should help them out a little. I think that you and eric and alexis are the most knowledgeable and level headed of th the gang. Thanks for trying to keep it all together.
Steven Allen
Nice to see Mr. Buffett worried about the U.S. Taxpayer by recommending this bailout package get passed. Or could he be throwing his influence around only because he just dumped $5b into Goldman and wants to make sure it doesn't go bye-bye? Hmm. One would like to believe in the good soul of the elderly gentlemen. Problem is, I don't trust what anyone says right now.
Justin
The title should be rephrased, "heaven help my five billion dollar investment in Goldman if the bailout fails to pass." I guess I'm just a tad jaded. It's an awful thing too with me being only 19. Watching this once great nation and the dreams of our founding fathers disappear before my very eyes is such a shame. http://cody.blogs.foxbusiness.com/2008/09/24/i-against-i-is-warren-buffett-now-part-of-the-illuminati/