Things have been moving so fast during the past few weeks that, every time I think of something to say, a new event occurs that makes a day-old commentary worse than ancient history.
However, Warren Buffet has seen a lot (although even he admits that he's never seen anythink like the current situation) and in this 54 minute interview with Charlie Rose, he lays out our situation with a clarity that no media pundit could ever achieve. Please watch this interview as Mr. Buffet honestly evaluates the current situation and future possibilities without ringing alarm bells, screaming and jumping up and down, or pounding the table. Most importantly, while observing that there was foolishness going on (he attributes this to "being human") he refuses to blame or look backwards.
I won't say any more, but have provided this link so that you can hear his friendly common sense, presented in a way you can understand (he likes to imagine that he is explaining things to his favorite sister).
http://www.charlierose.com/shows/2008/10/01/1/an-exclusive-conversation-with-warren-buffett
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