darren gersh, "nightly business report," washington. >> tom: warren buffett doesn't expect the death of bin laden to have a big impact on the financial markets. and the oracle of omaha still worries about future terrorist attacks on the u.s. over the weekend, buffett met with about 40,000 berkshire hathaway shareholders to answer their questions. many of those questions centered on controversial stock trades by a now former top executive. susie gharib reports. >> susie: it hasn't been the best of times recently for warren buffett, but you couldn't tell by looking at him or listening to him this weekend. >> go big red! go big red! >> susie: while there was some of the usual carnival atmosphere, the controversial sokol saga hung over the weekend meeting. david sokol, a berkshire executive and top contender to succeed buffett, resigned abruptly in march. that shocker came after sokol revealed he bought lubrizol to stock just before buffett acquired the chemical company. then last week, berkshire's audit committee issued a scathing report saying sokol violated berkshire's ethics and insid

that started talking about warren buffett and the fact that he was overrated and he took away the fraud the malfeasance the insider trading the market manipulation from his performance e be no better than an s. and p. index fund and this is finally coming out of the end of his career it's a shame that he and charlie monger his friends and are not going to end their career on a more positive note i'd like to see the video footage of charlie monger just like the gimp from that movie pulp fiction becomes out of florida leather head to toe suit and a king and then he performs on godly acts of financial carnage in front of warren and their shareholders now that would be a video worth watching so well speaking of shady dealings let's move to the next headline acts shady dealings helps gadhafi build fortune and regime now the thing that's so interesting about this of course we all knew this right where did khadafi get his hundred twenty billion dollars well of course he got it from western corporations or western politicians or western governments but here's the quote. it's referring to all th

>> i have always liked warren buffett.ilar traits, bank accounts, acumen, self-respect. we have all of those together. we'll topt invest with you like we want to invest with him shortly. >> i'm a clone. >> in terms of william, paulson has such an off-putting appearance that i was quite surprised and intrigued of the fact that william played that role. it creates a totally different person while he creates the life-saving function for the banks that he did in this movie. at the same time i -- i'll bend over and give him the credit that maybe he wasn't just saving the banks. maybe he was trying to save the country. >> who were the government folks trying to save? were they saving the banks, or were they saving the economy? were they saving the nation? what do you think they thought? >> that's a question where you can only give them the benefit of the doubt. >> right. >> but -- the bp thing is another failure. all tracing back to regulation. the bank failures, the housing failures, all lack a regulation and carrying out offic

they get bailed out by the government, and they also get bailed out by warren buffett who looks at the stock price and thinks, wow, i'm in here. buys $5 billion worth of stocks, which is now worth trillions more. god knows how much he made. he quadrupled his money. they are making so much money. the first thing they do, goldman sachs, is hand out the $1 million bonuses all over again. it's like nothing has changed. while they're doing this, ordinary people in america who were caught at the tail end of this economic influenza are still suffering. this cannot be right. >> one of the great lines in the book and in the movie is when they're talking to him about doing something in real estate, he says -- buffett said i'm a little short on cash right now. >> about $40 billion. i don't blame him. he sees his opportunity, and he helped bail out gold man stacks. good luck to him. i blame the government that allows this system to then just start up all over againing with no penalty, no real punishment. just get on with it, guys. >> the great disconnect during this period was the idea we bailed t

warren buffett said that there is always. do not think that this is the last that we will seek.ith that said. i think that with 7 million jobs created we can wipe out grief. in the debt of ireland. if we can fix the tsunami? but the middle east did not happen? yes, i think the market would be at an all-time high. and for the record, because i am a market person i thought it was a bit ironic that people were paparty--at the white house. and on the 911? there were so young. >>catherine: college students. interesting. and speaking of jobs it is going to be an interesting week. the jobs report an earnings reports this week. >> rob: we have finished so far, the earning seven fantastic. i do not think we've a catalyst to go higher. the earnings--have been fantastic so forth, we're going to create 180- 20,000. so we need jobs. 180-200,000. jobs creation. by friday. that report. >>catherine: thank you, rob. stay with us, more news after this break. rob@robblack.com ♪ you'll run outside ♪ i'll pass you by ♪ ♪ i want to see the sunshine ♪ ♪ take me where you are ♪ take me where you are ♪

inside of it you have of warren buffett knowledge of acquisitions and i think that is a great company a long term, a patient investor. and you can error on the side of caution. you can air-the side of caution, a dairy queen makes tiny little perhaps yogurt. >>catherine: the it and around forever! they have been around forever, the fortune 500 and generated 10.8 trillion dollars. and that is up 10% what does that tell us? >> rob: from the investment standpoint is were i look at it from. with companies bin or run since you and i were children. they will probably be around since you and i were a little children. they will probably a round when we are told it. with manufacturing, and other companies on that list. >>catherine: thank you. more news coming up. rob@robblack.com [ jerry ] look at this! you got a state-of-the-art man-cave, but the savings account of a cave-man! hey sports fans check this out. [ beep ] oops, my bad. earn more with interestplus savings at capitalone.com. that's new school banking, baby! ooh, 3-d! instead of earning bupkus, your savings could be earning three time

. >> you said i think it was the last time we spoke when you were in new york, you said look, warren buffett, carlos, they better be looking behind them because i'm on my way there becoming the richest person in the world. do you still feel that way? >> i have created five companies that have in them embedded resources worth $2 trillion. okay? at very l cost to produce it. so it's just a question of time. i'm sorry. so i don't know if i am going to pass him on the right side or the left, but it's going to happen. >> my thanks to eike batista. >>> up next on the "wall street journal report," she has designed clothes for the red carpet, white weddings, and now maybe your big day. vera wang on bringing accessible price tags to the bridal >>> from the red carpet to the local kohl's department store, vera wang is a brand with name recognition among fashionistas and middle class consumers all over. with a new collection exclusively at david's bridal, just in time for wedding season, designer vera wang joins me now. it's so wonderful to have you on the program. >> thank you, maria. i'm so thrilled

warren buffett, 200 years later, made very similar comments. if it does not look good in the newspapers the next night, you do not want to get involved in it. in the case of what we're dealing with, we are dealing with the former ceo of fannie mae, one of the men who presided over what almost became another depression. he ran fannie mae into the ground. he is now the ceo of fortress, the dominant partner at parkmerced. frankly, i think he should take a good, hard look at what you are dealing with. or to put it another way, do you think warren buffet or mere rothschild would want to do business with these people? i do not think they would. -- >> name is kathy, and i have lived in park merced 58 years, i am part of the action coalition. i am speaking as an individual and not representing the group. we feel that these mendments that now you aren't considering but shouldn't be considered because you haven't even listened to the appeal that was filed on the e.i.r. so it seems a bit out of sync to go forward when you of you haven't even looked at oth

warren buffett doesn't believe in sharing much with anybody. so you look for a positive management attitude towards dividends. you look at the record to see if they have, in fact, not only paid a dividend for a long period of time like a list of 25 years or more of paying a dividend. we call that the dividend aristocrat list. and not only paying it but increasing it as the earnings rise. so when that happens, you get income that's on the way up without taking a high risk of waiting for interest rates to move before you get any benefit. >> tom: you've brought along a collection of those you think are poised to increase dividends including the insurance giant chubb. the ticker symbol is cb. the stock is near a 52-week high. does it concern you to buy a stock that's been rallying, even if it is going to increase dividends, perhaps? >> not really. it's a restrained rally. i used the chubb on your program two or three years ago, and the stock has risen 20 points since then because the earnings have risen and the dividends have risen along with the e

. >> you said i think it was the last time we spoke when you were in new york, you said look, warren buffettcarlos, they better be looking behind them because i'm on my way there becoming the richest person in the world. do you still feel that way? >> i have created five companies that have in them embedded resources worth $2 trillion. okay? at very low cost to produce it. so it's just a question of time. i'm sorry. so i don't know if i am going to pass him on the right side or the left, but it's going to happen. >> my thanks to eike batista. >>> up next on the "wall street journal report," she has designed clothes for the red carpet, white weddings, and now maybe your big day. vera wang on bringing accessible price tags to the bridal whoa, i should get mom a samsung fascinate. bright, colorful screen, high-speed downloads, hd video. she'll want videos of grandkids. i'm not ready for kids. what would i name it ? brian's good. a brian will make eye contact, work with his hands, return e-mails. okay, mom's getting a phone. get mom a new samsung fascinate for $99.99 and unlimited data for only

>>reporter: a belief borne out by warren buffett's 26 billion dollar investment in the burlington northern santa fe railway. >>yet in india the trains are neglected and the system is creaking. >>construction started in the mid-1800s and rail was nationalized in the 1950s. this points control equipment was installed in 1932 and has seen better days. >>agnihotri: it faces the problem of funding. they only have to make a road and the trucks and everything else is brought by somebody else. in railways you not only make railway lines you have to provide for locomotives, coaches, wagons, everything. so it is actually what i should say a very intensive utilisation of capital. >>reporter: the focus for the government in recent years has been on expanding the roads. it has embarked on a programme to build 15,000 kilometres of new roads at an estimated cost of 30 billion dollars. cheaper than improving the rail freight network, but perhaps only in the short term. >>mehrotra: over a long-distance transportation, roads can never match the cost benefits which the rail transportation gives. rail transpo

couple thousand millionaires and billionaires living what's left as the richest man in america warren buffett pointed out there is a class warfare going on in america and his classes when it are the real takers at least buffett is honest enough to admit it and even try to work to change it if it's going to focus group for the republican party and the nation's billionaires the least they could do is take the word news out of their name. as the big picture for tonight for more information on the stories we covered visit our web sites of child marvin dot com and. also check out our youtube pages at youtube dot com slash the big picture arts and youtube dot com slash tom hartman also this entire show is available as a free of video podcast on i tunes and no forget the mock receive begins with you when you show up and participate when you get active it all gets going to your it sort of. mission free critique free. for churches free. arrangement free. three stooges free. loading videos for your media projects media party dot com. all. right i'm arriving here broadcasting live from washington d.c. c

and guys like warren buffett, you know, that grandfatherly, lovable old figure pays fewer taxes than his secretary. after 2012 we'll find out whether we can equalize this somewhat. thank you for that question. i've been given a sign out there that says i have ten minutes left, and i don't know if i've eaten up that ten minutes. anybody else got any questions? yes, sir. >> um -- >> mic. >> i wish we could hear you as well as this mic. this mic sounds great. [laughter] you know? turn your mic up a little bit. i read your book, it's a great book, i highly recommend the book to everybody, it's fantastic. what positive has come that you've seen from your efforts from writing the book, and what are some of the efforts outside of the book that you've done that people may not know that they should be aware of how they can connect to you and how they can find out more information? >> well, i think about, first, the thing about the mic, i'm wearing this, i don't know if that's picking up. what is the result of our efforts? people have wised up. i know some people who have problems with crooks

this out religious happening george georgetown university is funded by the prince you know the warren buffett of saudi arabia has a say in who has that is oh i don't think that they're preaching pro israel activism at georgetown middle eastern studies but are this is this is a little incentive to just be liberal institutions and just give money to university knowing that they're all liberal and that their money is going to further their cause they don't have the well you know you know maybe science is liberal maybe after you know maybe higher learning is they don't want to do we had a they don't have to do my thing they should be allowed to do it actually transpired i think it was very scary with if you were actually there you would still i was there i was in his garden and yelled it's one of his solutions as a way to solve the academic imbalances have donors use their money to make sure that they don't point socialist supporting economics professor in doubt cheers that was like the rich people make all the decisions about only education she wants or let's teach all our gallery of value share

google according to a poll of corporate reputations they beat out the oracle of omaha warren buffetting that google rose to first that the strength of its financial performance and public admiration. right now on wall street stocks fluctuating mostly on a decline in shares of energy technology and financial beating a retreat wiped out an early rally on the death of osama bin laden. becky . >> thank you. next opening statements get underway in the retrial of a broad blagojevich . >> former state treasurer alexi giannoulias has more to say . >> this sleek you get it may affect how your brain ages. rahm emmanuel and named kerry mccarthy as chicago's new police superintendent . >> chosen over two chicago veterans and some question if you'll be seen as an outsider and muriel clair has more ben up a good afternoon. the guessing game is over and now it is official. new work new jersey. mccarthy will be heading to chicago when mayor elect rahm emmanuel takes over in a few weeks. the pick was introduced with high praise for his accomplishments . >> his work proves that reducing crime and work

there's no reason on earth that we should be sending warren buffett a pension check or paying for billates' health care or mine for that matter. and in the 2.0 system of medicare and social security, not next generation, not this one, we ought to heavily devote the resources to those who need the most. >> you've also said that tackling debt, debt, debt and absolutely having to get that done is paramount to the survival of the republic and that perhaps there should be a truce on some of the very, very divisive social issues that tend to take up so much of the oxygen. do you still believe that? >> yes, i do. you know, not that anybody changes their mind, not that anybody retreats one foot, just that temporarily, we address the issue that threatens us all. if this country goes broke, we will all pay the price. black and white, gay and straight, male and female, we are all in this together. >> so there's a lot of politics to talk about this weekend and that's exactly what we're going to do with our roundtable when we return. [ male announcer ] at e-trade, investing means taking action with

i mean, i know you know that in 2007, i mean, warren buffett, the billionaire, talked about how he onlyaid essentially like 17% an effective tax rate while his secretary paid 30%. there are so many serious deductions that people can take that it's not applied evenly what people are paying in taxes. do you reform the tax code system? the president's own fiscal commission came out and said if we reform the tax code you can save and add a trillion dollars. >> well, a great economist of the past said the place where you've got to get revenues has to come from the middle class. that's the huge number of people that are there. so the system does need to be revamped. as far as -- i finishing you made the point if you go with what the president says about the wealthy you might get $36 billion compared to the $1.5 trillion expenditure this year. or should i say deficit this year. and the problem with that is that you hit about 800,000 small businesses where the jobs are created that would hopefully get enough people to pay taxes. so, yeah, we have an unbalanced tax code that we've got to change.

he is terrific as warren buffett on a new movie on hbo called "too big to fail." great movie.made me so mad. now he is home only a few weeks every summer, it's like his shoes. james tate is going to the prom, missioned accomplished. >> it was almost stealth-like. i got a tweet that said, james tate is going to prom. apparently the head master, the woman, had a news conference and announced she was going to start doing these things on a case by case basis. >> she had so much pressure. you can tell she still thinks it was wrong. you can tell. you know when you feel like you've got to make a concession and it goes against everything you believed. she was probably pressured into that. who knows what the whole story is. i'm happy for them. they'll probably break up right after the prom. they are high school kids. >> don't you love how he signs it "hmu," hit me up. >> some people get dates for the prom this way other people are doing clever things to get divorcees. >> what are they doing? >> we have quite the story. in "the new york times" sunday "styles" section, a 79-year-old, for

and the smarter ones now, you know, warren buffett already back in 1995 said in an interview that, well, i think that most of my wealth was made. it's not my doing it is you drop into bangladesh, i would be a poor farmer. it was i cannot create all the kind of infrastructure that i needed to make my money. so the smart ones know, and that's why, you know, that he has studied this movement of giving pledges. we can debate whether that is necessary to best use of his money, but still, he knows that individual productivity is fundamentally collective. it's not just your own doing. the same person with the same skill, same brains can become very differently productive, according to the society that he or she belongs. anyway, i can go on like this but i haven't got the time to go through all 23 of them. but let me just give you really one or two more. i mean, i could talk about that thing four which says the washing machine has changed the world more than the internet has. this has raised quite a lot of eyebrows, but this one will take a bit of time so i can get back to it if you are interes

tackle whether or not to raise the debt ceiling, at a berkshire-hathaway meeting, billionaire warren buffett saying, quote, we're a growing country and we are going to have a growing debt capacity. in my view there is no chance they don't increase the debt ceiling. buffett said it would be, quote, assinine not to increase it. now, the u.s. debt is at $14 trillion. those are your headlines. a lot of people are not happy about that. >> dave: last night, the big white house correspondents dinner when our commander-in-chief turns comedian in chief, mainly the journalists across the country, that were there and donald trump happened to be there, and he happened to be the butt of many jokes, by the president. listen: >> president barack obama: i know that he's taken flak lately. but, no one is happier, no one is prouder to put this birth certificate matter to rest than the donald. and that is because he can finally get back to focusing on issues that matter, like did we fake the moon landing? what really happened in roswell? and, where are biggie and tupac? [laughter]. >> president barack obama: s

bury for $19 billion, a move that wasn't encouraged by one of its more notable shareholders, warren buffettbuffett sold some stock off but plenty of others rose in and kraft shares rose almost 16% in 2010 kraft now holding the title of world's largest confectioner. ellen kullman has made bold moves that could pay off big for dupont in the future. she completed a $6 million acquisition. for the rest of the list as well as other great money stories, check out the all-new cnnmoney.com. >>> join christine romans for your bottom line saturday morning 9:30 eastern and savannah your money at 3:00. >>> let's update our top stories. key provisions of the patriot act could expire at midnight if congress doesn't pass a four-year extension. it is caught up in procedural wrangling right now in the senate and still has to go before the house if senators pass it. the expiring provisions of the antiterrorism law deal with roving wiretaps, tracking alleged lone wolf terrorists and allowing authorities to obtain any records they deem relevant to an investigation. >>> the supreme court sides with arizona on a

us, like members of congress, our premium support will be significantly less because we're not warren buffett but we can afford to pay more and we should pay more. if it's $4,000 more, so be it. we save the program for those who need it the most, the who are middle and low-income seniors, and that is the compassionate thing to do. so colleagues, stop this demagoguery. let's get together. let's work together and solve this problem once and for all. i yield back. the chair: the gentleman yields back. members are reminded to address their comments to the chair. the gentlewoman from illinois. >> yes, i move to strike the last word. the chair: the gentlewoman is recognized for five minutes. >> i'm getting a kick out of this debate. i really a ms. schakowsky: we hear the republican colleagues coming up saying, end the demagoguery, end the tv ads. i want to remind you, that the 2010 elections, the republican people went on televisionnd, yes, how about demagogued the issue of medicare saying democrats wanted to cut $500 billion from medicare. well, let's talk about the truth. . here is our plan to sa

what the gentleman was just talking about is the speculation -- warren buffett said [unintelligible] of the price will come down and it will stabilize. as far as up there in alaska, well, from what i understand, of bp owns the pipeline up there. any oil that is recovered up there in alaska, most of it is going to end up going out of the country. the power companies down here in virginia, they are raising their rates and they already get 100% back on their increases. they say they need to raise it $12 a month. [unintelligible] $90 million a year paychecks. the republicans are like leeches. it just got to change. guest: i have a lot of respect for that caller. i have a condo in northern virginia, and i have two homes in texas. i pay 50% less for electricity in virginia than i do in texas. host: why is that? guest: most of the power they generate in virginia is generated by coal. it is less expensive than natural gas down in texas. republicans are not leeches. republicans care, republicans have a heart. we do believe in free markets and individual opportunity. we try to micromanage it a