CNBC, sadly, has been playing a loop of Mr. Buffett's remarks that does a consummate job of leaving out his most important point. Nobody cares about the merits of mark-to-market in the abstract, but how it impacts our current banking crisis. And his exact words were that it is "gasoline on the fire in terms of financial institutions."The American Spectator has had a series of articles on the topic.
Freeman Essay #119: “Interpreting the State of the World”
32 minutes ago