Warren Buffett on the "Rescue Package": Transcript (10-3-08)

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.

Palin on FOX News: Transcript (10-3-08)

Read the complete transcript.

CAMERON: Congratulations. You're not formally -- you've pulled off your first vice presidential debate. What do you think happened?

PALIN: Well, first it was a lot of fun. It was a great opportunity to get to speak directly to Americans. That's how I looked at it when I walked into there saying, you know, we're not going to be filtered.
There's not going to be the cutting and pasting and editing of any of our comments. Right on. Let me just talk to Americans.

CAMERON: How soon after the debate did you speak to Senator McCain? Did he give you the "atta girl?"

PALIN: He sure did. Yes, immediately afterwards. And I had thanked him in that phone call for giving me a pep talk before I went out there. And he had some simple advice and it was, just go out there and be yourself and have fun.

CAMERON: So, when folks were watching it through their TV screen, when they sometimes see the (INAUDIBLE) to the reaction of the candidates, what were you thinking during the course of all of this?

Did you think that you surprised Joe Biden? Did you catch him off guard? Was there eye contact between you and he that he didn't see?

PALIN: There was a lot of eye contact and it was pleasant. It was, hey, you know, we're both in this together. We both understand what each other would be going through at this time. Kind of wondering, what's coming next, what's Gwen going to ask us next? So, that connection, it was some good chemistry. And again, at least I had a ball. It was fun.

CAMERON: Democrats put out 18 news releases last night and said that you committed 18 lies. The "L" word is pretty common this time around.

Anything you want to revise from last night? Anything that you said that you think on record (INAUDIBLE) you want to --

PALIN: Oh, I mispronounced General McKiernan, called him a
(INAUDIBLE) and I apologize for that.

Other than that, nope.

CAMERON: There was a lot of criticism that you misstated when you talked about us being at pre-surge levels in Iraq. Walk us through your math and what you were thinking you were talking about.

PALIN: Just -- well, as victory's getting closer and closer, we know that we're going to be able to draw down those troops. Send them to Afghanistan, not specifically that --(INAUDIBLE) we'll have more resources to be able to put into Afghanistan, and start what I believe, and what I believe our commanders have referred to also as, the principles of a surge there also in Afghanistan, in a counter-insurge strategy that should work.

Not specifically the cookie cutter approach that had been used in Iraq, (INAUDIBLE) of course in Afghanistan. But, the principle, we're going to be able to do that with more resources and literally, more troops.