C-Span panel video with Buffett, Immelt, Schwab, Dimon, Yerger and Thain

[Guest ajc]

C-Span panel on financial audits, corporate boards and US business regulation from 2007.

 

http://www.youtube.com/watch?v=ZgBgxy3r8aw

[claphands22]

Great video, with a terrific panel but over 2 hours long. Here is an edited version, of only Buffett, that is just under 10 minutes long.

 

http://youtu.be/ausHoN8XOVY

[Grenville]

Thanks for the links and the shortened version with just Buffett!

[nkp007]

Thanks for the links and the shortened version with just Buffett!

 

I especially like when Buffett and Immelt go after each other.

[dcollon]

I'm always amazed at how poorly Paulson speaks.  He mumbles and stumbles through almost every speech I have seen him give. 

[Guest longinvestor]

Great video, with a terrific panel but over 2 hours long. Here is an edited version, of only Buffett, that is just under 10 minutes long.

 

http://youtu.be/ausHoN8XOVY

 

An interesting tidbit in this clip is the discussion over FASB and Warren's comment (6:56 mark) was very interesting. He says that only 2 of the 500 companies in the S&P Index are applying the FASB as it relates to options accounting in the "preferred way"; The other 498 are using it in the "other way" (to boost earnings). He also says that the FASB was muscled into allowing the "other way".

 

Anybody know which two?

 

What's wrong in this picture? And this is just one way the books are cooked to make earnings look better than they actually are. I can think of pension liability accounting as well. Any others? What are the true earnings of the corporations? Are they desperate? Again, Warren has stated that at BRK, they "add up revenues, subtract expense, pay taxes and report earnings". How many corporations do this. Apparently not, as evidenced by overwhelmingly "smooth earnings" reported by them versus the lumps at BRK.

[usdtor05]

Pretty sure it was Coca Cola and Washington Post that early adopted