Warren Buffett was interviewed live this morning (Wednesday) on CNBC's Squawk Box, ahead of a special Berkshire Hathaway shareholders meeting to approve the company's proposed Class B stock split. This is the second part of an unofficial transcript of the entire one-hour interview conducted by Becky Quick. In this section, Buffett discusses compensation of bank CEOs, restricting leverage, Americans' frustration with their government, and why businesses aren't hiring.
He said, said she said...Chinese bank official denies banks told to stop lending in January. Global stocks have been down today on widely published reports that Chinese authorities are are finally serious about cooling off the asset (commodity and real estate) bubble that has developed in China.
It just goes to show you, not even the president is immune to the real-estate slump: The value of the White House is down more than $15 million in the past year, despite improvements the Obamas made such as a vegetable garden and fancy swing set.
The bigger upshot from the Massachusetts vote is this: Maybe we weren't repudiating 30 years of Reagan-style, less-is-better government when we elected Barack Obama president. Maybe we voted for the man because we liked him—and now we're realizing we DON'T like his policies.
Considering the tradition-defying results, many people are viewing the election as a message from voters.
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The victory in Massachusetts for Republican Scott Brown over Democrat Martha Coakley is seen by political strategists as a repudiation of the current health care legislation and the policies of the Obama administration.
If you're wondering about why the markets are weak today, the primary catalyst is China. Like it or not, China is the big kahuna in terms of economic growth. Also: The "worst mutual fund ever" shuts down.
President Barack Obama on Wednesday ordered a new crackdown on federal contractors who don't pay their taxes.
Warren Buffett was interviewed live this morning (Wednesday) on CNBC's Squawk Box, ahead of a special Berkshire Hathaway shareholders meeting to approve the company's proposed Class B stock split. This is the first part of an unofficial transcript of the entire one-hour interview conducted by Becky Quick. In this section, Buffett criticizes President Obama's proposed tax on banks.
Predictably, HMOs are trading up slightly on the Scott Brown victory in Massachusetts, but for the rest of the market its pretty much back to "sell on the earnings news."
The stinging defeat in Massachusetts energized congressional Republicans and left Obama and the Democrats with fallback options that range from bad to worse on health reform.
Today marks the 1 year anniversary from President Obama's Inauguration last year. Here are how the markets stand 1 year later and compared to presidents from 1901 until today.
Criticized from every angle imaginable for getting Nebraska out of paying for additional Medicaid in return for his (60th) vote to get the health reform bill through the Senate, Senator Nelson asked Senator Harry Reid of Nevada, the Majority Leader, to remove a special provision in the health care legislation that would have the Federal government pay all Nebraska's costs for the proposed extension.
Cramer explains why a Republican win in Massachusetts could work out well for Wall Street.
President Obama and his Democratic Party have declined considerably in popularity in the year since he took office, weighed down by public discontent over the economy and the health care debate in Congress, according to a new NBC News/Wall Street Journal poll.
Great numbers from IBM, but after a big late-day run-up...the stock is selling off to roughly $132 (as of this writing), near its Friday close ($131.78). Not only was topline better than expected, not only was bottomline better than expected, but guidance was raised for 2010 to AT LEAST $11 billion, from prior guidance of $10-$11.
The S&P 500 took another pop up late afternoon Tuesday to the highs for the day—and just shy of highs for the year. Traders are citing Intrade, which allows investors (gamblers) to bet on the direction of anything, now giving 84.9 percent odds that Massachusetts Republican State Senator Scott Brown will defeat Democrat Martha Coakley.
Times Square was hit by a flash mob of "homeless" Uncle Sams today, who were there giving the Naked Cowboy a run for his money, asking passerbys if they could spare some change —$12 trillion, to be exact.
US airlines are trading up 1 to 2 percent today. Airline earnings season begins this week with AMR (AMR, Jan 20), Continental (CAL, Jan 21), and Southwest (LUV, Jan 21) all reporting this week. Traders still getting over the shock of Japan Air Lines (JAL) bankruptcy; JAL has been bailed out 4 times in past 10 yrs by the Japanese government...