Buffett’s big bankroll buys Burlington Northern, bets Bituminous

Yesterday, Berkshire Hathaway, the investment vehicle of billionaire Warren Buffett, announced it is buying up the remaining shares of railroad company Burlington Northern. It’s a big bet on American rail, and a big bet on the American economy. It’s also a telling sign of Buffett’s belief that Americans aren’t quite ready to go green, since almost half of Burlington Northern’s cargo last year was coal. We speak to Phillip Longman, senior research fellow at the New America Foundation and author of ?The Next Progressive Era: A Blueprint for Broad Prosperity.? Also with us is T.J. Stiles, author of ?The First Tycoon: The Epic Life of Cornelius Vanderbilt.?