Fed can borrow from us, Moore says

DavidIngram — Thu, 25 Sep 2008 13:45:20 -0400

Richard Moore says the Federal Reserve is welcome to borrow from North Carolina.

In an appearance on CNBC, the Democratic state treasurer said Wednesday that the state's public pension fund would be willing to lend money — at the right price — to try to boost liquidity in the banking industry.

"I'd like to think that Hank Paulson has been as creative as possible. I've got a solution for you this morning, Becky," Moore told the channel's Becky Quick.

If the Congress is not willing to loan this money, if the Fed will give me a guaranteed rate of return — 7, 8 percent — I'll loan them the money, and I think there are a lot of pension plans across the country that would loan money to the federal government at that kind of rate. And I'll give him the fire power he needs to settle this out.

Moore described the heart of the problem as banks being unwilling to loan to each other.

"We really do have a real problem if banks can't trust each other, particularly with short-term trading, so we do need a solution to this and we need it quickly," he said. "But boy, that's easier said than done in our society, isn't it?"

Moore spokeswoman Sara Lang told Dome Thursday that the idea of lending to the Federal Reserve is still only a hypothetical.

Buffett says donors should sue Edwards

bniolet — Mon, 25 Aug 2008 10:00:00 -0400

Billionaire investor Warren Buffett says campaign donors could sue John Edwards.

Buffett, an Barack Obama supporter, speaking to CNBC anchor Becky Quick on Friday said that Edwards was misleading donors by assuring them there was no truth to a tabloid report that he had an affair. Edwards has acknowledged having an affair with campaign videographer Rielle Hunter.

He has a responsibility to the donors who sent in small amounts, Buffett said.

They sent it in while they were being misled by the person who was soliciting the money from them. You know, I think if I were Edwards, I might give up a haircut or two and refund at least, you know the people that gave the $50 or $100, $200 dollar items because if they had known the facts, they wouldn't have sent him the money and he was the guy that didn't give them the facts. I mean he knew that in effect he would not be elected president.

Buffett goes on to say that a class action lawsuit by donors might have a chance of success, although he's heard no rumblings of such a lawsuit.

"I've seen a lot of class action suits with less to it than this particular case," Buffett said. "The facts are clear. He solicited money and he wasn't telling the truth to people he was soliciting it from."

Hat Tip: American Thinker