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Warren Buffett Tells CNBC He Wholeheartedly Supports Bailout Plan

The Bush administration's controversial financial bailout proposal may be getting a heavy dose of criticism today from angry lawmakers on Capitol Hill, but Warren Buffett tells us he wholeheartedly supports the plan.

He told CNBC's Becky Quick over the weekend, "It's what I would do if I were there."

If opposition does continues to grow, Paulson might think about asking Buffett to come to Washington and do some lobbying, a task he might find more palatable than taking on responsibility for the whole thing!

Becky also notes that the SEC's "no-short" rules may indeed have been responsible for that enormous last-second spike in Berkshire Hathaway's stock price late Friday.

Current Berkshire stock prices:

Class A:

Class B:

Questions? Comments? Email me at buffettwatch@cnbc.com

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