Buffett appears on CNBC to talk about the rescue package and how it won't be a panacea. Read the transcript.
ERIN BURNETT: Mr. Buffett, wonderful to have you with us. I'll just throw out the first question here and that is this. You said you wouldn't have gotten into GE or into Goldman Sachs if it weren't for this bailout deal. Now it is done. Are you looking actively to put more money to work right now or is this going to be a period of pause for you?
WARREN BUFFETT: Well, that all depends on what's available. We don't have as much money around as we had a few weeks ago, but we still have a little. It all depends on what I see and what's being offered.
BECKY QUICK: Hey Warren, I just want to jump in with this. We watched the House bill being passed today, and I know this is something you've been counting on, passage of this bill in the Congress, on several of these deals that you've done. What do you think now that the bill's actually passed?
BUFFETT: I always said that I thought in the end the Congress would do the right thing on something this important. This is not a panacea. This does not solve all our problems. It just would have been a, it would have been a total disaster if it hadn't of passed and it gives some tools to reducing the impact of this recession on the economy. But it's not a panacea.
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