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bloomberg.com - 3/2/2009

Buffett Says Economy ‘In Shambles,’ Promises Best Days Ahead

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March 2 (Bloomberg) -- Billionaire Warren Buffett said the economy will be “in shambles” this year, and perhaps longer, before recovering from the reckless lending that caused the worst “freefall” he ever saw in the financial system. The economy and stocks will rebound, and the best days for ...

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Before the bell: Dow below 7,000 -- is this the day?
BloggingStocks — Filed under: Before the bell, International markets, Indices, Market matters, Economic data, Eastern Europe, DJIA, Recession, Financial CrisisThe way stock futures are looking this morning, it's quite possible we'll see the Dow Jones Industrial Average -- now at 7,063 -- drop below 7,000 today. At the very least, with U.S. stock futures declining so much, Wall Street may see sharp losses at the open as AIG (NYSE: AIG) reported yet another massive quarterly loss and received yet more government funds. Other items on investors' minds this morning include HSBC ...

Opening Bell: 03.02.09
Dealbreaker — ... prepares to hole up in its Manhattan office. ""A source familiar with the matter said on Sunday night that U.S. authorities felt it was cheaper to put more taxpayer money into AIG than to take the risk of letting it fail. Allowing the collapse of AIG, which has struggled to sell assets, would have far-reaching consequences for the global financial system as the company guarantees about $300 billion of asset-backed securities and other debt, analysts have said." Oracle Of Omaha Goes Alarmist (Bloomberg) Old faithful is showing signs of diminishing ...