{"id":300709,"date":"2010-02-09T23:51:00","date_gmt":"2010-02-10T04:51:00","guid":{"rendered":"tag:blogger.com,1999:blog-3087194156628161158.post-4448704165282709677"},"modified":"2010-02-10T00:00:53","modified_gmt":"2010-02-10T05:00:53","slug":"cnbc-warren-buffett-i-have-greater-appreciation-of-pres-bushs-handling-of-credit-crisis","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/300709","title":{"rendered":"CNBC: Warren Buffett: I Have Greater Appreciation of Pres. Bush&#8217;s Handling of Credit Crisis"},"content":{"rendered":"<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"fL tool_datetime clr\">Published:       <span class=\"cnbc_sbhd_comp\">Tuesday, 9 Feb 2010 | 2:46 PM ET <\/span><\/div>\n<div class=\"w100p clr cnbc_blgwlt_dot\" archive=\"urn:schemas-microsoft-com:workbench:xslt:archive\">\n<div class=\"padT\">\n<div class=\"fR tool_textsize\"><span class=\"cnbc_sbhd_comp fL padR\"><\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"w100p clr cnbc_blgwlt_dot\" archive=\"urn:schemas-microsoft-com:workbench:xslt:archive\">\n<div class=\"w100p fL clr padT marB20\">\n<div class=\"fL clr padB20\">\n<div class=\"fL\"><span class=\"cnbc_sbhd_comp\">By: Alex Crippen<br \/>Executive Producer<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a name=\"StoryImage\"><\/a><\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span><\/p>\n<table style=\"padding: 5px 15px 0pt 0pt;\" align=\"left\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" width=\"1%\">\n<tbody>\n<tr>\n<td><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/Sections\/News_And_Analysis\/_Blogs\/Warren_Buffett_Watch\/_DAILY%20POSTS\/Graphics\/100208_buffett_paulson_omaha2_200.jpg\" align=\"Left\" border=\"0\" height=\"150\" hspace=\"0\" vspace=\"0\" width=\"200\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Warren Buffett has made no secret of his opposition to President George W. Bush&#8217;s policies and actions during his eight years in the White House.<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>But Buffett said today that after reading former Treasury Secretary Henry Paulson&#8217;s new book on the credit crisis, he has a greater appreciation of Mr. Bush&#8217;s understanding of the crisis and the president&#8217;s willingness to do what was needed to prevent a complete economic collapse.<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Buffett also admiringly recalled Mr. Bush&#8217;s concise and simple summary of the situation at the height of the crisis: &#8220;If money doesn&#8217;t loosen up, this sucker could go down.&#8221;<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span><\/p>\n<div id=\"playerIFRAMEVid\" class=\" fL vidInlineWrapper\" style=\"width: 340px;\"><object classid=\"clsid:D27CDB6E-AE6D-11cf-96B8-444553540000\" codebase=\"http:\/\/download.macromedia.com\/pub\/shockwave\/cabs\/flash\/swflash.cab#version=9,0,0,0\" id=\"cnbcplayer\" height=\"285\" width=\"320\"><param name=\"type\" value=\"application\/x-shockwave-flash\"><param name=\"allowfullscreen\" value=\"true\"><param name=\"allowscriptaccess\" value=\"always\"><param name=\"quality\" value=\"best\"><param name=\"wmode\" value=\"transparent\"><param name=\"bgcolor\" value=\"#000000\"><param name=\"salign\" value=\"lt\"><param name=\"movie\" value=\"http:\/\/plus.cnbc.com\/rssvideosearch\/action\/player\/id\/1409208019\/code\/cnbcinline\/module\/videoModule\"><embed pluginspage=\"http:\/\/www.macromedia.com\/go\/getflashplayer\" allowfullscreen=\"true\" allowscriptaccess=\"always\" bgcolor=\"#000000\" quality=\"best\" salign=\"lt\" type=\"application\/x-shockwave-flash\" wmode=\"transparent\" name=\"cnbcplayer\" src=\"http:\/\/plus.cnbc.com\/rssvideosearch\/action\/player\/id\/1409208019\/code\/cnbcinline\/module\/videoModule\" height=\"285\" width=\"320\"><\/embed><\/object><iframe loading=\"lazy\" id=\"IFRAME_35317506\" src=\"http:\/\/www.cnbc.com\/id\/35317506\" name=\"CNBCVideo35317506\" frameborder=\"0\" height=\"90px\" scrolling=\"NO\" width=\"340px\"><\/iframe><\/div>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Buffett and Paulson appeared before the Greater Omaha Chamber this afternoon for an informal 50-minute &#8220;conversation&#8221; that focused on Paulson and the events he writes about in his book, <a href=\"http:\/\/astore.amazon.com\/politicalanimal-20\/detail\/0446561932\"><em><b><strong><em><strong>On the Brink: Inside the Race to Stop the Collapse of the Global Financial System<\/strong><\/em><\/strong><\/b>.<\/em><\/a><\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Video clips of the entire event are available in a<a href=\"http:\/\/everythingwarrenbuffett.blogspot.com\/2010\/02\/cnbc-video-warren-buffett-and-hank.html\"> <b><strong><strong>separate <em>Warren Buffett Watch <\/em>post<\/strong><\/strong><\/b>.<\/a><\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Paulson told Buffett that he expected the economic fallout from the crisis would be bad, but didn&#8217;t expects things to get as bad as they did.   Still, Paulson said, if the government hadn&#8217;t done anything the damage would have been even more severe.  He also said things could have been worse if the U.S. dollar had collapsed or if China and Russia had sold their holdings of U.S. debt.<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Paulson said the U.S. will get back all the money it pumped into the nation&#8217;s banks, and may even made a profit.  Buffett agreed.<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>On the controversial question of executive pay, Paulson said Wall Street&#8217;s compensation systems are &#8220;out of whack&#8221; and &#8220;restraint is very much in order.&#8221;<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Asked by Buffett how he is investing his money now that he isn&#8217;t a government official with a blind trust, Paulson replied he&#8217;s not a &#8220;great investor&#8221; like Buffett, but he&#8217;s mostly in fixed income investments and cash.  He explained that at his advanced age he&#8217;s more interested in preserving capital than making more money.<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>But Paulson said if he was a younger person, he would certainly be a long-term buyer of stocks in solid companies.<\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>And while he thinks the U.S. faces enormous problems, including a &#8220;fiscal challenge,&#8221; he thinks &#8220;every other major economy has more challenges than we do.&#8221;<\/p>\n<p><a name=\"StoryImage\"><\/a><\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Current Berkshire stock prices:<\/p>\n<table style=\"padding: 5px 0pt 0pt 15px;\" align=\"right\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\" width=\"1%\">\n<tbody>\n<tr>\n<td>\n<map name=\"map23175096\">\n<area coords=\"0,0,300,80\" shape=\"rect\" alt=\"Berkshire Portfolio\" href=\"http:\/\/www.cnbc.com\/id\/22130601\/\"><\/map>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/Sections\/News_And_Analysis\/_Blogs\/Warren_Buffett_Watch\/_DAILY%20POSTS\/Graphics\/080214_portfolio_tracker_badge.jpg\" usemap=\"http:\/\/feedproxy.google.com\/~r\/EverythingWarrenBuffett\/~3\/x4aOCXRIpuM\/cnbc-warren-buffett-i-have-greater.html#map23175096\" align=\"Right\" border=\"0\" height=\"80\" hspace=\"0\" vspace=\"0\" width=\"300\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Class A: <span id=\"WSODQ_COMPONENT_BRK.A_ID0EXJAC15839609\"><script type=\"text\/javascript\">cnbc_comboQuoteMove('popup_BRK.A_ID0EXJAC15839609');<\/script><span id=\"span_quote_BRK.A_ID0EXJAC15839609\" style=\"text-decoration: none;\" onmouseover=\"cnbc_spanTipPopShow('combo_popup_BRK.A_ID0EXJAC15839609',this,'0','15');\" onmouseout=\"cnbc_spanTipPopTimeHide('combo_popup_BRK.A_ID0EXJAC15839609',this,'0','15');\"><a style=\"font-family: Arial; font-weight: bold; font-size: 12px; color: rgb(0, 66, 118); text-decoration: none;\" onmouseover=\"this.style.color='#Fc7410'\" onmouseout=\"this.style.color='#004276'\" href=\"http:\/\/data.cnbc.com\/quotes\/BRK.A\" class=\"black_no_change\"><span id=\"set_quote_BRK.A_ID0EXJAC15839609\">[<\/span><span id=\"WSODQSTREAMOFF_BRK.A_SYMBOL_1_ID0EXJAC15839609\">BRK.A<\/span>    <span id=\"WSODQSTREAMOFF_BRK.A_LAST_1_ID0EXJAC15839609\">111700.00<\/span>    <span id=\"WSODQSTREAMOFF_BRK.A_CHANGEARROW_1_ID0EXJAC15839609\"><img decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/CNBC_Images\/componentbacks\/watchlist_up.gif\" border=\"0\" \/><\/span>      <span class=\"green_pos_change\" id=\"WSODQSTREAMOFF_BRK.A_DYNACOLOR0_1_ID0EXJAC15839609\"><span id=\"WSODQSTREAMOFF_BRK.A_CHANGE_1_ID0EXJAC15839609\">589.00<\/span>    <span id=\"WSODQSTREAMOFF_BRK.A_UNCHHIDE_1_ID0EXJAC15839609\" class=\"WSODQ_CHGSHOW\">(<span id=\"WSODQSTREAMOFF_BRK.A_CHANGEPCT_1_ID0EXJAC15839609\">+0.53%<\/span>)<span id=\"WSODQSTREAMOFF_BRK.A_FLASH_1_ID0EXJAC15839609\"><\/span><\/span><\/span>      <span><img decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/CNBC_Images\/backgrounds\/realtime_icon.gif\" border=\"0\" \/><\/span>]<\/a><\/span><\/span><script type=\"text\/javascript\">         cnbc_quoteComponent_init_getData(\"BRK.A\",\"WSODQ_COMPONENT_BRK.A_ID0EXJAC15839609\",\"WSODQ\",\"true\",\"ID0EXJAC15839609\",\"off\",\"false\",\"inLineQuote\");         <\/script><\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span>Class B: <span id=\"WSODQ_COMPONENT_BRK.B_ID0E4OAC15839609\"><script type=\"text\/javascript\">cnbc_comboQuoteMove('popup_BRK.B_ID0E4OAC15839609');<\/script><span id=\"span_quote_BRK.B_ID0E4OAC15839609\" style=\"text-decoration: none;\" onmouseover=\"cnbc_spanTipPopShow('combo_popup_BRK.B_ID0E4OAC15839609',this,'0','15');\" onmouseout=\"cnbc_spanTipPopTimeHide('combo_popup_BRK.B_ID0E4OAC15839609',this,'0','15');\"><a style=\"font-family: Arial; font-weight: bold; font-size: 12px; color: rgb(0, 66, 118); text-decoration: none;\" onmouseover=\"this.style.color='#Fc7410'\" onmouseout=\"this.style.color='#004276'\" href=\"http:\/\/data.cnbc.com\/quotes\/BRK.B\" class=\"black_no_change\"><span id=\"set_quote_BRK.B_ID0E4OAC15839609\">[<\/span><span id=\"WSODQSTREAMOFF_BRK.B_SYMBOL_1_ID0E4OAC15839609\">BRK.B<\/span>    <span id=\"WSODQSTREAMOFF_BRK.B_LAST_1_ID0E4OAC15839609\">74.53<\/span>    <span id=\"WSODQSTREAMOFF_BRK.B_CHANGEARROW_1_ID0E4OAC15839609\"><img decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/CNBC_Images\/componentbacks\/watchlist_up.gif\" border=\"0\" \/><\/span>      <span class=\"green_pos_change\" id=\"WSODQSTREAMOFF_BRK.B_DYNACOLOR0_1_ID0E4OAC15839609\"><span id=\"WSODQSTREAMOFF_BRK.B_CHANGE_1_ID0E4OAC15839609\">0.30<\/span>    <span id=\"WSODQSTREAMOFF_BRK.B_UNCHHIDE_1_ID0E4OAC15839609\" class=\"WSODQ_CHGSHOW\">(<span id=\"WSODQSTREAMOFF_BRK.B_CHANGEPCT_1_ID0E4OAC15839609\">+0.4%<\/span>)<span id=\"WSODQSTREAMOFF_BRK.B_FLASH_1_ID0E4OAC15839609\"><\/span><\/span><\/span>      <span><img decoding=\"async\" src=\"http:\/\/media.cnbc.com\/i\/CNBC\/CNBC_Images\/backgrounds\/realtime_icon.gif\" border=\"0\" \/><\/span>]<\/a><\/span><\/span><script type=\"text\/javascript\">         cnbc_quoteComponent_init_getData(\"BRK.B\",\"WSODQ_COMPONENT_BRK.B_ID0E4OAC15839609\",\"WSODQ\",\"true\",\"ID0E4OAC15839609\",\"off\",\"false\",\"inLineQuote\");         <\/script><\/p>\n<p class=\"textBodyBlack\"><span id=\"byLine\"><\/span><em><\/em><\/p>\n<p class=\"textBodyBlack\"><a name=\"comments\"><span style=\"font-weight: bold;\">Share Investor Links<\/span><\/a><a name=\"comments\"><\/a><\/p>\n<p><a href=\"http:\/\/www.shareinvestorblog.com\/\">Share Investor Blog<\/a> &#8211; Stockmarket &amp; Business commentary<br \/><a href=\"http:\/\/shareinvestornz.blogspot.com\/2007\/02\/new-zealand-business-news.html\">Share Investor New Zealand Business News<\/a>&#8211; Get more business news<br \/>Discuss this topic @<a href=\"http:\/\/www.shareinvestorforum.com\/\"> Share Investor Forum<\/a> &#8211; <a href=\"http:\/\/shareinvestorforum.com\/ucp.php?mode=register&amp;sid=450a61250472e03fa25c205c9c1723f1\"><strong>Register<strong><\/strong><\/strong><\/a> free<br \/><a href=\"http:\/\/www.currency-market.blogspot.com\/\">Share Investor&#8217;s Daily Forex Updates<\/a><\/p>\n<p><span style=\"font-weight: bold;\">Recommended Amazon Reading<\/span><\/p>\n<table id=\"searchResults\" cellspacing=\"0\">\n<tbody>\n<tr class=\"clsOdd\">\n<td class=\"tdimage\"><a href=\"http:\/\/astore.amazon.com\/shareinvestorbookstore-20\/detail\/0060555661\"><img decoding=\"async\" src=\"http:\/\/ecx.images-amazon.com\/images\/I\/41rcIrKhYiL._SL75_.jpg\" alt=\"The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)\" \/><\/a><\/td>\n<td class=\"tddescription\"><a href=\"http:\/\/astore.amazon.com\/shareinvestorbookstore-20\/detail\/0060555661\">The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)<\/a> by <span class=\"by\">Benjamin Graham<\/span><br \/>  Buy new:        $14.95       \/ Used from:        $11.44<br \/><span class=\"availability\">Usually ships in 24 hours<\/span><\/td>\n<\/tr>\n<tr class=\"clsEven\">\n<td class=\"tdimage\"><a href=\"http:\/\/astore.amazon.com\/shareinvestorbookstore-20\/detail\/0471743674\"><img decoding=\"async\" src=\"http:\/\/ecx.images-amazon.com\/images\/I\/51hqcX1xLtL._SL75_.jpg\" alt=\"The Warren Buffett Way, Second Edition\" \/><\/a><\/td>\n<td class=\"tddescription\"><a href=\"http:\/\/astore.amazon.com\/shareinvestorbookstore-20\/detail\/0471743674\">The Warren Buffett Way, Second Edition<\/a> by <span class=\"by\">Robert G. Hagstrom<\/span><br \/>  Buy new:        $9.72       \/ Used from:        $4.67<br \/><span class=\"availability\">Usually ships in 24 hours<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><script type=\"text\/javascript\">var addthis_pub=\"shareinvestor\";<\/script><\/p>\n<p><iframe loading=\"lazy\" border=\"0\" marginheight=\"0\" marginwidth=\"0\" src=\"http:\/\/rcm.amazon.com\/e\/cm?t=sharinve-20&amp;o=1&amp;p=7&amp;l=ez&amp;f=ifr&amp;f=ifr\" style=\"border: medium none ;\" frameborder=\"0\" height=\"40\" scrolling=\"no\" width=\"260\"><\/iframe><\/p>\n<div><script type=\"text\/javascript\">var addthis_pub=\"shareinvestor\";<\/script><br \/><a name=\"data:post.title\" id=\"data:post.url\" onmouseover=\"'return\" onmouseout=\"addthis_close()\" onclick=\"return addthis_sendto()\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/s7.addthis.com\/static\/btn\/lg-share-en.gif\" alt=\"Bookmark and Share\" style=\"border: 0pt none ;\" height=\"16\" width=\"125\" \/><\/a><script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/200\/addthis_widget.js\"><\/script><\/div>\n<p><!-- AddThis Button END --><\/p>\n<div class=\"blogger-post-footer\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1811166043296468\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 60;\ngoogle_ad_format = \"468x60_as\";\ngoogle_ad_type = \"image\";\ngoogle_ad_channel =\"\";\n\/\/--><\/script><br \/>\n<script type=\"text\/javascript\"\n  src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><img width='1' height='1' src='https:\/\/blogger.googleusercontent.com\/tracker\/3087194156628161158-4448704165282709677?l=everythingwarrenbuffett.blogspot.com' alt='' \/><\/div>\n<p><a href=\"http:\/\/feedads.g.doubleclick.net\/~a\/T965yLOUbamKQ8lXE9dNGm6BHEc\/0\/da\"><img decoding=\"async\" src=\"http:\/\/feedads.g.doubleclick.net\/~a\/T965yLOUbamKQ8lXE9dNGm6BHEc\/0\/di\" border=\"0\" ismap=\"true\"><\/img><\/a><br \/>\n<a href=\"http:\/\/feedads.g.doubleclick.net\/~a\/T965yLOUbamKQ8lXE9dNGm6BHEc\/1\/da\"><img decoding=\"async\" src=\"http:\/\/feedads.g.doubleclick.net\/~a\/T965yLOUbamKQ8lXE9dNGm6BHEc\/1\/di\" border=\"0\" ismap=\"true\"><\/img><\/a><\/p>\n<div class=\"feedflare\">\n<a href=\"http:\/\/feeds.feedburner.com\/~ff\/EverythingWarrenBuffett?a=x4aOCXRIpuM:axGsJAj1C3g:yIl2AUoC8zA\"><img decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~ff\/EverythingWarrenBuffett?d=yIl2AUoC8zA\" border=\"0\"><\/img><\/a>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/EverythingWarrenBuffett\/~4\/x4aOCXRIpuM\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Published: Tuesday, 9 Feb 2010 | 2:46 PM ET By: Alex CrippenExecutive Producer Warren Buffett has made no secret of his opposition to President George W. Bush&#8217;s policies and actions during his eight years in the White House. But Buffett said today that after reading former Treasury Secretary Henry Paulson&#8217;s new book on the credit [&hellip;]<\/p>\n","protected":false},"author":833,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-300709","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/300709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/833"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=300709"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/300709\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=300709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=300709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=300709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}