Word: cnbc
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Dates: during 2000-2009
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That is why Buffett is not in the cable-news business. For as the economy nose-dives, CNBC - the TV darling of the turn-of-the-century stock boom - is proudly letting the emotion overcome it. (Read about Buffett's tell-all biography...
...March 9 edition of CNBC's Squawk Box, Becky Quick was interviewing Berkshire Hathaway CEO Warren Buffett when the Oracle of Omaha expressed support for the Obama Administration's mortgage bailout. "Becky," co-host Joe Kernen broke in, "tell Warren you're mad that you've done all the right things and all these other people are going to get bailed out." Buffett replied, "There's nothing wrong with being mad, Joe. It's just that there are times when you're mad about something that you've got to overcome the emotion...
...that almost all indications show credit tightening, "Unless we start seeing a reversal of the widening of a lot of these credit spreads, any equity rally is going to be short-lived," said David Lutz, managing director of institutional trading at Stifel Nicolaus, in an interview with CNBC...
...Others seem to be coming around to the banking industry's position. On Tuesday, Federal Reserve Chairman Ben Bernanke said he would support changes in pricing illiquid assets. Also this week, investor Warren Buffett said in a CNBC interview that he would favor suspending the mark-to-market rules. Even the Securities and Exchange Commission (SEC), which has long backed these rules, recently asked the Financial Accounting Standards Board (FASB), a private group based in Norwalk, Conn., that sets accounting rules in the U.S., to look into the matter. FASB spokesman Neal McGarity says his organization is doing that...
...same time, Dodd is looking increasingly vulnerable. The silver-haired father of two young girls is facing his toughest re-election fight ever, and he doesn't even have an opponent yet. (CNBC pundit Larry Kudlow and former GOP Representative Rob Simmons have both expressed interest in running.) In a January Quinnipiac poll, 51% of Connecticut voters said they would not vote for Dodd in 2010. "It's the subject matter - people are watching their tax dollars go into institutions and they wonder when it's going to get better and they wonder where it's going," Dodd says...