Monday, January 25, 2010

Climateer Line of the Day: Warren Buffett on Ben Bernanke (BRK.A; BRk.B)

From last week's CNBC interview* via the WSJ's DealJournal blog:

...CNBC:….Should he be confirmed?

Buffett: If I could vote twice I would. He should be. He did a magnificent job over this period… We can’t sit here and armchair quarterback him. But when we look back at September and October 2008, he took some extraordinary actions….we talked about it being an economic pearl harbor. He did what he should have done in response.

Q: What happens if he’s not recommended?

Buffett: Well, just tell me a day ahead of time so I can sell some stocks.

Q: You think there would be a strong sell off in the market?

Buffett: Oh, I think so. Sure.

Q: Across the Board

Buffett: Yeah, I think it would be justified.

Q: You do?

Buffett: Yeah, I think Congress is a worry of the American people, particularly what they have seen over the last 12, 18 months. If Congress essentially said we can do this better than Ben Bernanke…I would get very worried....

*CNBC Transcript: Warren Buffett's 'Stock Split' Interview (BRK.A; BRK.B)