Warren Buffett recently did an 3-hr interview on CNBC’s Squawk Box.

During the interview, Warren discussed his thoughts on various subjects like Europe, the housing market and financial institutions that are too big too fail. He also revealed one stock that he has been accumulating. Clue : Harold.

Here are the videos of most of the interview:

The various parts of the interview can be found in the links below while the full transcript can be found here:

• Transcript Part 1: Buffett on Europe & U.S. Housing ‘Depression’
• Transcript Part 2: Buffett Calls Romney the Strongest GOP Candidate
• Transcript Part 3: Buffett on MF Global and Excessive Risk
• Transcript Part 4: Buffett on Occupy Wall Street and the ‘Harold’ Hint
• Transcript Part 5: Buffett on Why He Bought $10.7B of xxx Stock
• Transcript Part 6: Buffett on Infrastructure Investments and Bank of America
• Transcript Part 7: Buffett on China, the Economy, and Corporate Jet Tax Breaks

On Friday after the US market closed, S&P downgraded the US credit rating from AAA to AA+. They also kept the outlook as “negative”, which puts it inline for further downgrades in the future.

Actually, the downgrade has been been hinted at for some time, but the actual downgrade might herald in a new financial era.

Warren Buffett argues that the downgrade was a mistake, and as much as I am a fan of him, I have to differ from his view this time round.

US treasuries have rallied of late because of the increased market volatility. But with this downgrade, will institutional funds be forced to sell off their US treasuries? It will be interesting to see the outcome of this tug of war and how the equity markets will react.