by Calculated Risk on 11/21/2008 01:48:00 PM

Here are some excerpts, via the U.S. News & World Report, of a Fox News interview with Warren Buffett to be aired this afternoon.

On unemployment:

“There are going to be more people unemployed ... Five months from now ... it will be considerably higher ... It will happen eventually [surpassing 8%], and we will go on to new heights, but it will not turn around by mid-year next year.”

On the potential auto bailout:

“I would drive a deal like I would drive myself if I were buying a business. And I think, I would say there's plan A or plan B. And if you don't want to do it this way, you know, then...take bankruptcy.

I would make the CEOs buy in. I would say, you know, the United States government is willing to put in X dollars, but we're going to have you put in a certain percentage of your net worth right along with us. We'll give you more upside, but you're going to lose if we lose.”