Crisis Counsel with Warren Buffet, Bill Miller etc.

Will the subprime lending meltdown and credit crunch send us into a financial free fall? Fortune asked the sharpest minds in business to share their reactions to the downturn, and their insights on the road ahead.

• Warren Buffett
• Many institutions are marking to model rather than marking to market. The recent meltdown in much of the debt market, moreover, has transformed this process into marking to myth.
  
• Wilbur Ross
• Henry M. Paulson
• John Mack
• Bill Miller
• These things flow through the system, and they're part of the system. They're normal. They happen usually every three to five years.
• But these events represent opportunities. When markets get locked up like this, it's virtually always the case that you'll have opportunities if you have liquidity.
  
• Instead of worrying how bad it's going to get, I think people should be thinking about where the opportunities might be.
• The NYSE financial index is probably the best barometer of what's to come. So far it's telling you it's not over. It's still falling.
  
• But just as financials lead on the downside, they will lead on the upside.
• Robert Shiller
• Jim Rogers
• Market corrections are coming.
  
• Jim Chanos
• We don't know how bad this gets. The problem is we don't know how bad the hole is.
• The areas of excess are going to get pulverized, and any overreactions will be areas for people to look for bargains ultimately.
  
• But I don't think we're anywhere close to that yet.
• Stephen S. Roach
• Amy Brinkley
• Laura Tyson
• Jeremy Grantham
• Ben Stein
  

Full Article Link - Crisis Counsel.

Bloomberg Interviews with James Chanos About His Short Ideas

Sometimes it's useful to listen to voices from the other side. Jim Chanos talks about his short ideas like Macquarie Bank Australia, Moody's(NYSE:MCO), WCI(NYSE:WCI) and Warner Music Group(NYSE:WMG). Here is video link or you can watch directly below.

You can also find a piece talks more details about his Moody's short - James Chanos, Betting Against Buffett, Sells Moody's Short.



A Moody's chart from Berkshire Hathaway Shareholders Message Board

FT.com Interviews with Jim Chanos

FT.com's "View From the Top" series interviews with Jim Chanos of Kynikos Associates. In these interviews, Jim Chanos talks about short selling, hedge fund regulation and private equity.

Video Direct Link
Highlights from his video interview