is responding and what we're learning about billionaire warren buffett's purported talks with the biden administration and tonight, calls for the federal reserve to be investigated after the second largest bank collapse in u.s. history. >>> california in the cross hairs once again from that new round of storms. more soaking rain in the forecast with another four feet of snow in the mountains and winter's last big blast, 70 million americans now face freeze alerts. we just learned at least 150 vehicles were involved in a massive pile-up. >>> vladimir putin's power move, traveling to a russian occupied city in ukraine. ukraine is comparing his visit to that of a thief entering under the cover of night. and it comes just hours before his meeting with chinese president xi. >>> miami beach declares a state of emergency and imposes a curfew after two deadly shootings. spring breakers seen running for cover. >>> the urgent search in mexico for an american mother of seven. her family on what the kidnappers are demanding. >>> heartbreaking video of a college wrestler's apparent desperate search

we know warren buffett is no strange to the banking sector.iti, american express, visa, we should note that either the white house or treasury are confirming this, we've reached out, haven't heard back. but obviously, from the oracle of omaha would be one way to restore confidence in the banking system. to look at what is happening today, they've been mixed from the selloff. first republic back down 48%. in the last few officials a u.s. official briefed reporters wha is going on in the banking sector, this official said the state deposits at small and midsize banks has continued not just last week, but through today. and reporting from this official says it's swings in the stock market is noll way correlated to what they're seeing with regards to bank deposits which is good news i would think. and uninsured outflows they're either slowed or stopped or in some cases reversed basically all of the major banks that we've been talking about. so, i think all of this is encouraging, and we hope to see this trend continue because it would show that co

it is no surprise to me that this administration is calling on warren buffett because in the past, warren08 global financial crisis, buffett invested in bank of america, gave b of a a lifeline there and invested in goldman sachs. gave goldman sachs a lifeline got incredible term as far as investing in there -- terms for investing in there, getting right at the bottom. no surprise to me he is being called on to help with liquidity. no doubt about it, we are talking about a weekend of panic and tenuous situation this morning. it is incredible what bad policy can do, and that is what is happening here. you're talking about 15 years of zero interest rate rates, and then in a hurry, in under a year, the federal reserve raising interest rates consistently, catching many businesses by surprise. the issue at silicon valley bank was that it had invested in long-term bonds, so as interest rates went up, at the federal reserve was raising rates, those interest rates on the bonds went up sending the value and the price of those bonds down. so when they started to see that they needed to shore up capi

can you comment on any conversations with warren buffett? >> yeah, i think ed just asked that question -- sorry. [laughter] >> no, i just don't have anything for you at this time. i can confirm that i have not had a conversation with warren buffett. i't just don't have anything to read out at this time. >> just following up on the broad question about banking. can you give uss a sense of the next steps in this? you've expressed confidence that the banking system is strong, but there's still some jitters out there. >> understood. the president has already called for congress to make it easier for regulators to do the following, clawback compensation, impose civil penalties, and ban executives from working in the banking industry. he will also -- going to call on congress and bank regulators to strengthen the rules for larger banks so this doesn't happen again. as you know, and i've said this many times before, in 2018 we saw the previous administration rolled back some of the tough requirements put under -- put in place under the obama biden

warren buffett's berkshire hathaway buying even more. josh brown, you own berkshire. do you think of this move? >> every time this stock has gone below 60 he has been buying. it's not a surprise. i think it's great that berkshire is still in a place where they're putting on these big bets and it seems to be company specific, not a situation where they're buying five different oil stocks. this seems to be the one they want to acquire so as a shareholder it's nice to go along for a ride on that trade. the dividends that will flow to berkshire become part of the earnings growth of the company that i have a share of. that's the way shareholders view it. >> do you feel -- maybe this question doesn't make sense but, i don't know. do you feel his buy of this stock puts a broader floor at least in the idea of where energy stocks can go? buffett continues to buy occidental. some wonder where the energy trade itself is going, but as long as he keeps buying at least that one stock, does it at least make you feel in some respects like you don't want to get too negative on the spa

letter is warren buffett's income in 2010 was something like if you were an economist $12 billion and he paid a total of $7 billion in income taxes all perfectly legally, etc., that was 6/100 of 1% of his income he paid in taxes because of being able to shelter all legally. trump's tax returns which were released all i've never heard anyone they were illegally done or anything. all these once released that's just what the now if you had a low rate let's say a flat tax like did with jerry brown for 13% across the board with, no deductions, exemptions, exclusions you would have you would have buffett in 2010 paying about 1.6 1.7 billion and he'd be better off. everyone else would be better off and there'd be no warfare. everyone knows, you've got to pay your fair share. everyone. but when you start trying to steal from a group, they respond by trying to get around you and the rich have more money. they can hire more lawyers. accountants deferred, income specialists, favor grabbers, lobbyists, etc. and you don't have a chance. low rate. broad based flat tax is the way to go that's the no

. >> called warren buffett like lehman disaster. >> we talked beforehand so many things going on have a context, you know banks, storm clouds, war on the horizon, all different issues, that yet going to do this thing with trump? >> indict trump tomorrow? two standards of justice stuart: good morning, maria, good morning, everyone. question of the day. is the banking crisis over? answer? at this point, no. high anxiety still rumbling through the financial markets here we go. ubs in a forced marriage with the very troubled credit suisse. the stock of credit suisse continues to fall. ubs though staging a small re bound after huge losses earlier this morning . some regional banks at home under more pressure. this is where the trouble began two weeks ago. first republic is down another 18% but we've got a turnaround in some of the others. pac west, they were all lower at the start of the trading, at the start of the day earlier this morning. now they've bounced back just a little. no sign of real panic this monday morning. but just an awful lot of anxiety we've got a flight-to-safety, obvi

you don't want to miss my take of warren buffett potentially coming to the rescue. be careful what you ask for. all that and more on "making money." ♪. charles: on sunday more 16th 2008 bear stearns was sold to jpmorgan for two dollars a share. the news sent shockwaves throughout the investing world. get this, it was 93% discount from that friday's close. that was the nation's fifth largest investment bank. later the deal was adjusted to $10 a share. the if he lent jpmorgan 30 billion to make the purchase happen. it was hoped the at the time emergency action to save a 85-year-old investing institution would stave off contagion and collapse of the banking sector. it did not. soon there after we saw shotgun weddings between bank of america and merrill lynch. lehman, you remember, was simply allowed to go out of business. going into the past weekend there was a feeling there would be fireworks. remember a lot of bank failures are announced friday after the close. then of course we got something else. it was deja vu all over again. united bank of switzerland acquire cre

what is happening with bitcoin. >> let's get to vonnie quinn with the first wood headlines. >> warren buffett u.s. regional banking crisis with the biden administration. they talked about possibly investing in the sector. we are told the berkshire hathaway ceo give advice and guidance about the issue. buffett has a long history of stepping in to help troubled banks. the ftse is said to be moving toward breaking up silicon valley bank after failing to find a buyer. our sources say the regulator wants to sell the failed vendor in at least two parts. the ftse has been taking bids until friday. bids are due on wednesday. tom barrack is taking a leading role in advising first republic bank as it races to avoid a collapse. sources tell bloomberg that derek will be working closely with jim herbert to orchestrate any potential deal. at $30 billion rescue package last week led by some of the biggest u.s. banks. global news, 24 hours a day on air and on quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. >> we get more on the currency market pullout. this is bloomb

. >> the project is sponsored by the foundation of the son of warren buffett. just 15 kilometers down the road, a village lies in ruins almost exactly as it has since last year. this is all that is left. she lives in a modified container, quite literally among the wreckage of her own home and she does not live alone. >> look at this beautiful girl. >> she shares the dwelling with her daughter and granddaughter. >> is the three of us, sometimes my son comes, he sleeps on the top bunk and the three of us sleep on the bottom. what can we do? >> they have been living this way since last summer, she applied for help to rebuild her house but has not heard back. >> we filled out the forms but there is no decision on whether we will get help or not. we do not know more than that. >> she knows her case is just one among many. the military destroyed hundreds of properties in her village alone. nationally that number is in the hundreds of thousands. a social policy expert says the government has done a great job at finding temporary housing for almost everyone. >> they la

getting backing from the white house after being introduced in the senate >>> and then later warren buffett doubles down on one of his new favorite stocks. it's wednesday, march 8th, 2023. you're watching "worldwide exchange" right here on cnbc ♪ >>> good morning and welcome to "worldwide exchange. i'm frank holland. let's kick off the hour with u.s. stock futures we're seeing green across the boards right now very muted but slightly positive for the s&p, dow jones, and nasdaq the green a welcome sign for investors, this after a wild day of trading yesterday the dow closed lower by more than 570 points or nearly 2% and turned negative for the year the sharp move low fehr everyone coming after comments from fed chair jay powell saying the rates need to go higher than previously anticipated and at a higher pace. the 2-year note is now trading above 5% this is very meaningful. it's the highest level since 2007 with that spike, the spread between the 2-year and 10-year benchmark bond yield is now at its widest since all the way back in september 1981 we saw an economic downturn after more than

a cash lifeline to those struggling institutions. >> warren buffett was pretty integral back in 2007, 2008 and 2009, infusing capital to infuse confidence. andrew: this turmoil as senator elizabeth warren calling for changes to the regulatory system and for ceos of these failed institutions to be held accountable. >> these big multibillion-dollar banks loaded up on risk. they boosted their short-term profits. they gave themselves huge bonuses and big salaries, and they exploded their banks. when you explode a bank, you ought to be banned from banking forever. andrew: senator warren calling for an independent investigation into the federal reserve to see if warning signs leading up to silicon valley bank's collapse were overlooked. andrew dymburt, abc news. dion: the manhattan district attorney says his office will not be intimidated after former president donald trump claimed on his social media platforms that he would be arrested on tuesday. the manhattan d.a. is investigating alleged touch money payments made to stormy daniels ahead of the 2016 presidential campaign. the former pre

without that power, it has no power and, therefore, in my view, i would be in the warren buffett campwould not buy on the crypto in the world for $25. kriti: we thank you as always. more markets coverage ahead. stick with us. this is bloomberg. ♪ romaine: the big rebound coming off the big selloff we saw over the last few days. the question is, whether it is going to stick. kicking you off to the close. scarlett: there are airlines that a russian collided with a u.s. drone. romaine: certainly off the best levels. her upper percent on the day was

warren buffett, big story today.ors moving higher on takeover speculation after an analyst highlighted language in the company's 10k filing from late last month. the beer giant set unsolicited offers could cause disruption to its business. most told seekingalpha, routine procedure. molson coors up 3% right now. adidas reporting a big loss from the fourth quarter ended cut their dividend after a split with the rapper ye, terminating the partnership last year in response to his anti-semitic remarks. 700 million right off for easy sneakers. fish fix reporting the wider than expected loss for a second court, the company lost $0.58 a share where analysts were expecting a loss of $0.34 a share. it did report his first quarter of positive free cash flow in more than a year. it is down 4%. baron berg downgraded tesla, saying the electric vehicle stock has less upside from here. he prefers other automakers as tesla's valuation, quote, leaves less room for disappointment. tesla is facing a federal probe. the national highway t

liz: i know warren buffett likes your stock, you should have a steak together -- >> you know, we hade, tomato sandwich for lunch not too long ago. liz: he's getting a little healthier. no more t-bones. good to see you, mike. mike wirth of chevron. >>> when we come back, we're going to be watching the markets. charlie gasparino's coming up charlie gasparino's coming up and the imax ceo. ♪ade ♪ it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪ there's no going back. this man needs updated covid protection. so does she. yup, these guys too. because covid is still out there, and so are you. and if your last vaccine was before september 2022, you're out there with fading protection. but an updated vaccine restores your protection. so you can keep doing you. get an upd

scott, back to you >> seema, thank you. >>> occidental petroleum moving higher warren buffett's berkshirehaway buying more stock bringing their stake to more than 23% rich saperstein, you own objectiony you have chevron, exxon, marathon >> obviously they have a concentration in shale in the u.s. so it makes them geopolitically less at risk. an operating cash flow at current oil prices of over 30% and a free cash flow over 25%. buffett still has the preferred. it's really going to go down to roughly one times leverage a clean balance sheet and a typical buffett names. i like the name. >> jimmy, how close are you watching oil prices? $65, a little north of that. we're at $68 now i ask you that because mark fischer gave me a call and said here is what i think is going on now no one wants to buy it with all the recession fear that is are swirling around. that there's a buyer's strike. >> it's a great point and mark fischer is really the g.o.a.t. i would like his opinion on this the presidential opinion, we're goin spr at prices of $67 to $62 they sold the barrels of oil at $70. buy it back no

billionaire investor warren buffett has been in talks with officials from the biden administration to offer a cash lifeline to those struggle. showing institutions something he has done in the past, or buffet was pretty integral back in 7 2008 and nine incoming and infusing capital to infuse confidence into the banking system. this turmoil in the banking sector has senator elizabeth warren calling for changes to the regulatory system and for ceos of these failed institutions to be held accountable. big, multibillion dollar banks loaded up on risk. they boosted their short term profits. they gave themselves huge bonuses and big salaries, and they exploded their banks. and when you explode, a bank ought to be banned from banking forever. senator warren also calling for an independent investigation into the federal reserve to see if warning signs leading up to silicon valley bank's collapse were overlooked. late last night, the f d i c announced flagstar bank, a subsidiary of new york bancorp is taking over signature bank the f d. i c estimates the failure will cost its deposit insurance

how warren buffett is reportedly getting involved, and what this crisis could all mean for a fed decision this week on interest rates. >>> putin and ukraine. the russian leader paying a surprise visit to occupied territory. the defiant gesture, and the look ahead to his critical meeting this week with china's president xi. >>> abortion battleground. the growing push by conservative states to outlaw access. abortion pills declared illegal in wyoming. other states expected to follow suit, and the proposal in florida to ban abortions after six weeks. >>> missing mom. the american mother of seven feared kidnapped in mexico. >> we have not heard from her. >> the fbi's reward for information on her whereabouts. >>> college athlete's death. a wrestler collapsing after an intense workout, dying of heatstroke. the multimillion dollar settlement by the university as his parents speak out this morning. >>> crash landing caught on camera. a pilot with engine trouble forced to land on this beach. shocking a passerby walking her dog. ♪ i got a feeling ♪ sweet 16.it. >> peters. he's going to take the th

that. 11 minutes to the top of the hour, the white house is in touch with billionaire investor warren buffettthe banking crisis. the market cheering at the moment, up 300 points, nearly 200 banks could be at risk the same fate as the silicon valley bank. ja jackie, great to have you here. warren has never missed a sale, i suppose he could walk away with a deal from all this. but that sign of confidence is boosting markets right now. bottom line with the story, people want to know, is their money safe? what is the talk on wall street today. >> today wall street seems to think your money is safe. i would disagree with you on why the market is up, i think they are looking at wednesday ahead to the fed and thinking the fed will not act, the fed will be forced to pause as a result -- >> sandra: not disconnected. >> so when i think about the warren buffett thing, i have less confidence in the administration, they have to go to outside forces. when your treasury secretary is janet yellen and jerome powell on the fed, why can't they come up with the plan. the study of regional banks is concerning, th

it's warren buffett's favorite.kansas -- >> you're a very hard course to ski, my friend. what's going on? >> caller: what are your thoughts on mite? momentum holdings inc.? >> not a buyer. when you see a stock going down like that it doesn't matter what the earnings say they are it matters what's going on including that dividend situation. i say no. or non-situation. walter in california. walter. >> caller: jim, how are you? lakewood, california loves jim cramer. i know you're a busy guy. can i get your -- can i get your perspective on nordic american tanker? nat. >> happenen just keeps telling me business is going up, up, up. the stock's at 4 -- historically they've been a seller of common stock all the way which bothered me. let's go to michael in washington. michael. >> caller: jim, hi. first i want to say what a brilliant and important job you've done all these years demystifying -- demystifying the market. >> i am trying to get this one right. i am trying to get it right. thank you. >> caller: well, it's been g

is responding and what we're learning about billionaire warren buffett's purported talks with the bidenght, calls for the federal reserve to be investigated after the second

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if you'll recall, warren buffett, that legendary investor stepped in during the 2008 financial crisisought shares in goldman sachs back then for $5 billion and made more than $3 billion on the investment. meantime this morning, we have news that new york community bank has agreed to purchase signature bank and then finally, robin, the federal reserve according to goldman sachs is very likely to pause its rate hikes at its meeting. that would mean less expensive credit for americans on their credit cards and new mortgages, robin. >> as you said, we'll find out later this week about that. rebecca, thank you. >>> and now to breaking news overseas, russian president vladimir putin is meeting in moscow with china's leader as putin faces an international arrest warrant for war crimes in ukraine. our chief foreign correspondent ian pannell is tracking the latest for us. good morning, ian. >> reporter: yeah, good morning, robin. you know, they say that a friend in need is a friend, indeed. well, vladimir putin is certainly in need. his war's going badly. he's been hit by sanctions, now charge

the white house held a series of consultations with one of the the most successful investors warren buffettllapse , ukraine will not get anything, newswick warns, but washington does not want to allow peace for anything, as natalya goncharova tells how the war is kindled, european politicians have already lost all the decorum of the european parliament. tries to silence those who advocate for peace and demand to stop the supply of weapons. kiev, this was pointed out by a member of the european parliament. warmonger mick wallace is uncomfortable telling the truth about the us-nato's stupid and proxy war european parliament. would like to silence anyone. who has the audacity to expose the madness of ukraine's endless pumping of weapons dooming many ukrainians to death, the deputy advised the west not to forget the illegal actions of the united states in other countries. he emphasized that it was the activity of the united states and nato that became the cause of the conflict between russia and ukraine . albina's edition recalls that russia once liberated europe from the aggression of napoleon

jamie dimon last week or warren buffett.was there during the financial crisis. >> oh, sure. >> buying shares too >> he was. also attracting incredibly great terms for berkshire that you were unavailable to anybody else because it's warren buffett and he brings the patina that says, everything's going to be okay. whether it was ge or goldman or bank of america through the years, mike, he has always gotten those convertible deals that were unavailable to anyone else >> look, his phone only rings. i'm not sure it goes out, you know if you're that person, and you've built that up over the years, you have this financially impenetrable balance sheet and all the rest of it, then if you need to call him, it's because you're willing to, you know, tilt things in his favor >> we should come back to ubs, stock of which is now up very nicely after, of course, that forced purchase, so to speak the swiss government stepping in, saying, you're buying credit suisse this is what you're going to pay. and they are actually using their own stock

how warren buffett is reportedly getting involved, and what this crisis could all mean for a fed decisionweek on interest rates. >>> putin and ukraine. the russian leader paying a surprise visit to occupied territory.

we have had global equality washington system and warren buffett is finding out who has the winning shott director at aj bell. stay with us on bbc news, still to come: the generation x factor. why the over—50s have the skills so many employers want but aren't applying for thejobs. today, we have closed the book on apartheid and that chapter. more than 3,000 subway passengers were affected. nausea, bleeding, headaches and a dimming of vision — all of this caused by an apparently organised attack. the trophy itself - was on the pedestal in the middle - of the cabinet here. now, this was - an international trophy, and we understand now that the search for it. has become — an international search. above all, this was a triumph for the christian democrats of the west, offering reunification as quickly as possible, and that's what the voters wanted. this is bbc world news, the latest headlines: the british finance minister says his first budget will promote growth and get more people back to work — labour accused him of sticking plastic politics. credit suisse plans to borrow more than $50 bil

warren buffett is said when this goes out, you better be wearing shorts and that is absolutely the caseebody has to step in and offer support. i have read that report from the swiss national bank we have not had a response yet and so, that will be crucial and i suspect that will be coming tomorrow. i have to ask and many are wondering.— coming tomorrow. i have to ask and many are wondering. these bankers and ceos are _ many are wondering. these bankers and ceos are supposed _ many are wondering. these bankers and ceos are supposed to _ many are wondering. these bankers and ceos are supposed to be - many are wondering. these bankers and ceos are supposed to be the . many are wondering. these bankers i and ceos are supposed to be the best and ceos are supposed to be the best and brightest of the world. how come they didn't see this coming down the line? if they didn't see this coming down the line? ., , , ., they didn't see this coming down the line? ., , ,., .. ., they didn't see this coming down the line? ., , ., ., line? if one person cannot control such a complex — line? if one person

. >>> why the pull back has warren buffett looking at his best stocks. it is tuesday, march 28th, 2023. you are watching "worldwide exchange" here on cnbc. >>> good morning. welcome to "worldwide exchange." i'm frank holland. let's check it off with the u.s. stock futures after the mixed session yesterday with the dow closing 200 points higher and a mixed picture with the futures. we are seeing the dow in positive up 40 points if it were to open right now. the s&p and nasdaq both in the negative. we are checking the bond market. yields are ticking slightly from the start of the week. 10-year treasury at 3.57. 2-year treasury at 4.45. energy is coming off the highest session and total this morning. wti is above $70 a barrel. up .75%. the international brent crude is $79 a barrel. >>> we are watching cryptocurrency. bitcoin struggling to stay above $27,000 after a key player in the space is set to answer questions from regulators. more on that coming up in the hour. >>> and let's check on the action in asia and the trade in europe. we are joined now by ara

when you and warren buffett talk, when was the last time you z spoke and what do you guys talk about? days ago. we talk about the oil and gas industry we talk about technology he has a very -- you know, big curiosity about the technology of the industry, the sub surface. he likes to talk about technical things he's very much aware of where our industry's been, where we're going, and i have a lot of fun talking to him about the nuances of what drives success in our industry, and what really drives success and differentiates companies is, first of all, the quality of the to not only understand the subsurface better, to model it and design better frags but to drill more efficiently we get a chance to talk about a lot of that with warren buffett. >> good. i'd love to be a fly on the wall in the conversation. vicki hollub, thanks for joining us >> thank you i'd like to be fly on that wall, too. also, you can catch brian's new show it premieres on wednesday night. it's called cnbc's last call it's going to be exploring the culture of money, culture and policy "squawk box" will be right back

well, for example, yes, as warren buffett decides. these tasks are like, that is, for him.to buy and when he decides to sell, he decides very simply, that is, he does not look at him, because the investment horizon is eternity and , accordingly, hmm uh, this difference of plus or minus 5% when to buy and when to sell does not matter to him. that is, he simply omits it, but, on the other hand, he looks very strongly at the fundamental indicators of the company, and, accordingly, the risks. it regulates by the fact that such a word diversifies, yes, that is, yes, it divides invests not in one company, but in several. for example, those who, if you take, uh, the so-called traders who make transactions every day, are there anyway. and what does the company do, does it make socks or software. it doesn't matter. uh, there uh, it's profitable, it's not profitable, it doesn't matter. yes, that is, for them the most important thing is that the price moves well, he says, the fussy ones are tolerated. in the marketplace, well i'd say there's such a uh man, that's through mathematician

as warren buffett said you should be greedy when others are fearful and fearful when others are greedyle are fearful. stuart: very interesting, dr barton is with us, are you on board with buying big banks nauert expectation of a nice again a couple years down the road? >> i really am and i think several of them are really well-positioned to. i wrote you in my notes that i like jpmorgan because of what they've done leading up to now. they have shown so much strength, made money hand over fist to the tune of $46 billion. strong reserves, too big to fail category. it's pretty safe for american investors to put money in too big to fail when they have a 12%, 13% holdback. stuart: show me the regional banks. looks to me like they are down again, enormous volatility, first republic 30%, still a lot of jitters in the second and third tier banking industry. that has got to be a worry. >> certainly, you can't ignore that at all. you don't want to dump your money into a big bank right now but you might want to start taking some little nibbles, now is a good time in jpmorgan or bank of america bec

maybe it has something to do with how they interpret mark-to-market warren buffett is upset because an he is focused on earnings and not mark-to-market swings. i think we are getting close to the next quarter which will be some type of capitulation or bottom march comes in like a lamb and out like a lion. rh right now it is coming in like a lion >> it is probably good news for those who are hoping to use the weakness today as an opportunity. we take a courageous investor at this stage. >> it is the quarter not just the day between now and june, we will get is some type of peak in rates and trough in the stock market >> i guess leading into your experience as the investor, as you say, you have been around for some time. how does this selloff, the fears we see compare to other periods of peak fear looking back to the global financial chrrisis? >> that was different because it was overleveraged in real estate when you have financial stress in the industry, it repairs itself in 13 months or 14 months so, i think that the idea that last year in the spring, late spring, we started the contag

. >> and warren buffett we just heard a story about any details on what? >> we have no details of those conversations and so we will leave it there as it relates to the first republic again i will not comment on any specific institutions because of the actions we took last week americans can be confident their deposits are safe and banks have access to funds to meet the demand that's you seen from the banking regulators. >> and with those predatory. >> i have not seen those reports i will not comment specifically on what is occurring there locally that the g.i. bill is something incredibly important for military veterans we don't want to go beyond the report. >> governor abbott has an styled more than 130 miles on federal land and with the requirements to do this to double down that they will not asked to do this if the administration plans to test it in arizona said that's the question for the department of justice i have nothing to share bit more broadly the governor of texas this is another political stunt instead of dealing with an issue in the way tha

what wasn't that warren buffett said let's hide this out you find out who has been swimming naked int is a lot of free money that is been available because interest rates were low in interest rates rising his cause a lot of the structures. leaders are now looking to see who else has been skinny-dipping. we've had the failure the two largest the second and third largest failures in u.s. banking history company in just the last seven days mr. bank. these are regional banks but really key to the economy. 40% of lending happens through regional and local banks. one has a story on this. the question is what happens when these banks all began to shore up their balance sheets and constrain lending because they want to keep capitol at home which makes it harder for consumers to get home loans and car loans and for companies to get loans to crumbs the economy. >> yes i want to play sound from senator elizabeth warren on reserve chair jerome powell and raising interest rates, let's listen. let's see redoing with inflation but he is also responsible for employment. i want what chair powell is t

remember warren buffett back many 2011 when things are really bad, he bought bank america.ood enough for buffett,ing it's good enough for me. i i always like charles schwab, it's down about 40%, under pressure. there's not going to be a run on charles schwab. it's the largest brokerage firm in the country. people are concerned, and morgan stanley had a note saying, well, people concern investors -- are moving their money from the cash accounts into, say, 2-year treasuries because they yield more, and that will help schwab's earnings. okay, it may hurt them slightly but not a lot. schwab will still make $4 which means it's trading at about 11 times earn, that's half of where it trades. stuart: full disclose off, they handle my investment accounts. >> well done. stuart: lauren's back with us looking at the movers, and we're going to start with disney -- lauren: up 4% this week, investors are buying into the restructuring of mr. bob iger. the 300 job cuts in china and then the marvel entertainment chairman, isaac perlmutter, is out. they got rid of the metaverse, investors are

what we have seen here is warren buffett, that a very wise man, said once, when the tide goes out, wed out who is not wearing a swimming suit. and we found out already three folks that were not wearing swimming suits. over the weekend, the fed and the regulators showed up at the beach and started handing out swimming suits to everyone. i think once the world settles down, i think we will find that this is truly a stabilizing event for the vast majority of financial institutions, and certainly for the real economy. alix: so good to chat with you. based on that, can it be stabilizing and systemic at the same time? ralph: i'm old enough, which i don't think either of you are, to remember the savings-and-loan crisis in the early 1980's precipitated by a similarly sharp increase in short rates, fed fund brought on by then chairman volker. as you will recall, but you have probably read about, the savings and loans were taking their deposit, which were all priced very short, and investing them in mortgages and other long-term securities. when rates went way up and the value of those went way

warren buffett said you should be reader greedy when others are fearful and people are fearful now, thistime to be greedy. stuart: thank you for taking time out of a busy day to be with us this morning. thank you, appreciate it. look on the left hand side of your screen, that's how the markets going to open this morning. no idea how it will close but open way down. back in a moment. ♪ futures show a lot of red ink down 600 nasdaq down about 150 as we approach the opening bell. you say the banking crisis appeared to be back in it, does this present buying opportunities? we had ken fisher a couple of minutes ago, he said maybe by the big banks because there down today but up in two years, what say you? >> i agree, big banks are too big to fail and we know and crisis like this, and this is a crisis, they end up on the up side of things, six months, a year later so i think this is going to play out a little longer, big banks are an area we are committing, we haven't started yet but i think maybe see how the market trades today throughout the week, start to circulate positions in the big bank

bloomberg, reporting warren buffett has been in talks with the white house to invest in other regionalre. the failure of signature and has placed greater scrutiny and oversight after the fed knew more than a year of issues facing svb well before its collapse, even issuing several warnings about svb's poor internal risk management systems. oversees following a week of volatility in the banking system, swiss regulators brokering a deal for investment bank ubs to acquire credit suites in a $3 billion deal -- suisse in a 3 billion-dollar deal. >> to secure financial system stability. reporter: regulators agree the move will likely prevent wider financial chaos. >> there was no choice for policymakers to do what they did over the weekend. they should've done it before. reporter: both fed chair jerome powell and janet yellen are praising the ubs credits we steal to enhance global financial security and emphasizing the u.s. banking system remains strong. larry: not to the investigation into former president donald trump, who claims he will be arrested tomorrow. so far the new york district at

. >> called warren buffett like lehman disaster. >> we talked beforehand so many things going on havem clouds, war on the horizon, all different issues, that yet going to do this thing with trump? >> indict trump tomorrow? two standards of justice stuart: good morning, maria, good morning, everyone. question of the day. is the banking crisi

downturn but at the same time, the -- what we have seen in realtime is the example of the famous warren buffettp about when the water goes out -- when the tide goes out, we see who's swimming without -- that's right. but the additional point today is that there's also wondering, have the lifeguards made some mistakes here as well? and that's creating the worry that there's going to be a new flood of liquidity provided to markets. and so the implication for the economy is still uncertain so this is an open question. but we're going to have higher financial market volatility. that's for sure. and greater strains. >> we're trying to figure out, to your point, john, just how big of a deal this is going to be, you know svb and the failure of two other banks, credit suisse reeling over in europe we're not in a financial crisis, right? comparisons to -- you've been through a lot of these cycles. you've been through a lot of these crises you were at the imf, which is very focused on systemic risk. how do you put what we're seeing now into some sort of historical context about how big it's going to be?

and bloomberg reports billionaire warren buffett hats given the biden advice and guidance about how tote the environment. >>> check this out, a quick thinking civilian stopping a man with two loaded guns in new york city. the suspect was running from the new york police department thursday after flashing his guns during an argument. when the bystander stepped in, he pushed him into a bush and held him down until if police were able to make the arrest. the armed man is now charged with possessing a weapon after a felony conviction, and he a faces up to 15 years in prison. not all heroes wear capes there. takes a lot of courage out there. >>> arkansas overcoming kansas to advance to the sweet 16. this clutch bucket helping the raise razorbacks secure the 72-71 win. >> who's going to be the one to take the big shot? in it goes! joey: i'm still learning basketball, so i guess that's a putback bucket. will, you can tell me about it later. meanwhile, tennessee advances after knocking out duke in the blue devils' first tournament appearance since legend care coach mike she shelf sky retired l

maybe the world's most famous one in warren buffett when you mentioned tenet, one of the things you like is a buyback, a war on buybacks, i think we can say. the oracle of omaha weighed in in their investor letter the other day calling the people who criticized them economic illiterates. do you have a view on buybacks >> there's two types there's the buybacks where the company has extra profits and they want to return it to shareholders and the valuation of the stock they feel is undervalued and they think they can create value for existing and continuing by shrinking the number of shares outstanding and giving everybody an opportunity to own more of the company without having to put more money into the company i think those buybacks are great. there's another kind which you have stocks which trade at really high prices they pay people in stock and try to reduce the dilution, they take their cash flow and buy overvalued stock that is less desirable >> leave me with a thought on twitter. you did make an investment it was an arm play, betting the deal was going to have to go through at 54.

zero, whatever they did, financed the derivatives markets and the derivatives market is what warren buffett said about the derivatives, they're weapons of mass financial destruction and derivatives market in the world today, financed by the bank of japan is a quadrillion. quadrillion. neil: you're a genius, robert, takes a lot for me to catch up with you, bank of japan is not like chase or wells fargo or citigroup, it is their central bank and japan had actually combination of their treasury as well. if that goes belly-up, i mean that is a huge deal. now, they have been dealing with zero rates and virtually no inflation, that seems to be ending. they kobe reversing that, but why is this such a doomful call? >> well because the bank of japan has been financing derivatives, a quadrillion, that is a thousand trillion, quadrillion is a thousand trillion. we have not seen the crash coming yet. that is why -- neil: doing this more than a decade, deck decade 1/2 and it hasn't happened. >> going on since 1944. we were reserve currency of the world. neil: this going on there in japan, it would have

than we ever were despite all its long-term success, the most successful investor in history is warren buffettalue investor. despite that, it remains to be the least popular investment strategy >> why is that, do you think >> i think it's psychology value investing almost by definition means owning what's unpopular. and so that's not a popular career choice. and then moving to index funds, although i'd say the value indices are no real threat to a true value manager but index funds are definitely taking sons of assets away from active management and the other thing is value has gone through its least good 15-year period in the history we have, 60 years of history. so that's winnowed the ranks we wrote a piece on this and one of my favorite quotes comes from phil knight. the cowards never started and the weak died along the way. that leaves us i think the good news is value investing is working and to david's point we have a whole lot less competition out there >> he made that point as well. >> not just -- if people want to do what we do, they just don't know how to do it anymore. no place to g

again, i think warren buffett cited very well at some point, when the tide goes out, you can see who wears swim trunks. clearly some people did not wear swim trunks. i think there will be a flight to safety, and also there is going to be more transparency in this because if you don't manage the balance sheet well, managed the bank will come it will be a matter of time before you see trouble we had an extension of credit and qe and negative for low interest rates for really really long time and since the financial crisis further expanded during the covid and all that, so you cannot keep pumping out money and then expect nothing but will happen at some point, right? we talked about this with you guys for a long time. inflation is a monetary phenomenon, so i think we will just see the consequences of that now. those volatility -- volatilities in the market, we will see that. those have been going up because the interest rate accounts are in the accounts and they said that they do have a long-term exposure to two longer-term bonds, and that is in many times in the past that has been a ca