Today's Top Videos: Buffett, Bailout, AIG & More...
Warren Buffett makes a surprise $5 billion endorsement to Goldman Sachs , while Treasury Secretary Paulson agreed that a proposed $700 billion financial bailout be modified to put some limits on executive pay. Following are today's top videos:
Buffett's $5B Investment in Goldman
“There’s not better firm on Wall Street. We’ve done business with them for years. The price was right, the terms was right, the people were right, so I decided to write the check.”
—Warren Buffett, Chairman, Berkshire Hathaway
Executive Compensation Limits
“This is a consensus developing primarily between house and senate Democrats but there are some Republicans are agreeing to this. About how this big bill, this RTC-like plan, will look like, I received a document today that outlines the consensus. It’s still a work in process.”
—Charlie Gasparino, CNBC Business News
Will Washington's Plan Work
“I give the Paulson plan a B+, but I give his marketing of this plan an F! The way he’s selling it is bad. There’s no oversight, and he’s got a bend on every one of these points. It’s very confusing, so there needed to be more clarity—but we do need to unclog the financial system so the basic structure of the plan is necessary.”
—Jeremy Siegel, Finance Professor, Wharton School at University of Pennsylvania
Stop Trading, Listen to Cramer!
“With AIG, we got the news that the federal government basically is not going to let any of these people take over. I think the obligations are maybe 4 or 5 times what the government is going to lend them. I think AIG would be down substantially if it weren’t for the fact that you can’t short.”
—Jim Cramer, CNBC’s Mad Money