Recapping the day's news and newsmakers through the lens of CNBC.
Buffett on political bluffing
Forget the big taper countdown, the markets' new fixation is the fight over the federal budget. In the extreme, it could lead to a partial government shutdown, even a Treasury default. How likely is that? A well-known voice of reason, billionaire investor and Berkshire Hathaway CEO Warren Buffett, says the markets will weather all this: Washington will stop short of the brink because not even politicians are that stupid.
"The market is not gonna fall apart, because [investors] expect Washington will only act irrationally for a certain length of time."—Warren Buffett