Paulson on ABC This AM:
Minimize impact on Econ..
Stabilize financial system...would not speculate what would have happened if FED didn't step in for BSC. DohHHHHH!
Dodged the question on if others are in trouble.....expressed he is confident it will work out in the long run. I agree with him there.
Strong dollar policy...throwing up all stops it sounds to spur econ, tax incentives, open investment and trade policies such as the recent Columbia Free trade deal. He says the weed and cocaine we can get from them is amazingly priced. Weed in many cases is priced 50% lower than our current hydroponic imports from Canada. (lol- my edit)
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fwiw..my local Sunday Newspaper this AM has not one word of this BCS bail out in the Biz section? Guess who owns this city's paper? WB..yep.
Yet 1/3 of a page for Spitzer?
I call dirty pool on WB!!!!!
Was that a tell that he's worried a bit ??
There were a few articles in Saturdays edition...but why none on the most read paper day in America... The Sunday AM edition?
I'm about to throw up...listen to his high moral being..ufb?
Where is the BSC story in Sunday's paper Warren???
He see's the advantage and uses it.. ..news is power, read this below:
" The business is probably now worth about half of what it was a decade ago and "it will be worth less in the future," he said. "I'm quite comfortable with that. We won't sell something just because people will offer us more than it's worth."
Newspapers' dominance has been undermined in recent years by television and the Internet, which have grabbed readers, Buffett explained earlier this year in his annual letter to Berkshire investors.
"If cable and satellite broadcasting, as well as the Internet, had come along first, newspapers as we know them probably would never have existed," Buffett wrote.
Even if newspaper companies develop successful Web sites, free competition is now only a click away, Buffett noted.
The integrity of newspapers could be undermined as they become more economically weak, Buffett and Berkshire Vice Chairman Charlie Munger said on Sunday.
As some newspapers developed monopolies during the Twentieth Century, their integrity grew because they could support or criticize anyone without worrying about losing advertisers, Munger explained.
"The worse the economics of newspapers, the more tempting it is to be less of what a newspaper should be," Buffett said.
"There was more integrity in newspapers in the past than there will be in future," Munger added. "When you start needing advertisers, then integrity is challenged." End of Story |
