It is a little tough in the market today
 

Just curious, do you think Buffet is buying or selling?

Jimmy?

Yea, that Buffet too. He probably has enough money to be getting good advice.

Buffett was interviewd on TV this morning. He didn't say he was buying, just said that sometimes this kind of turbulence causes very good values to appear, and he gets excited when he sees a great value.

After being down 300 at one point the
 

market finished up 12. I guess someone was buying after all during the carnage.

Gee, I hope a couple of hege funds didn't get clobbered and forced to sell while we were down. :)

Novak says the Bernacke doesn't want to cut interest rates because the move would be seen as bailing out millionaires who have made risky investments.

The rate cut will come ... mark my words.

Novak, Bob Novak?? If that is who you are quoting what the heck does he know about the fed? He barely is 50/50 calling the area he is familiar with.

I think the Fed cuts later this year, but I sure as heck hope it isn't done to bail out the hedge funds. Wouldn't bother me if the Goldmans of the world take an absolute ass kicking.

Maybe they will wise up and get back to investing.

Novak says Greenspan would have hinted of or leaked reports of a rate cut.

Bernacke hasn't.