Billionaire investor Warren Buffett spilled his guts today on CNBC, though the "Oracle of Omaha" is still keeping a few secrets up his sleeve. He noted that Berkshire Hathaway recently ramped up its stake in either American Express (AXP) or Wells Fargo (WFC), but declined to specify which financial firm won his affection (Warren, you tease.)

As for the economy, Buffett said, "the situation is still getting worse," and added, "In my judgement, it won't be any better 5 months from now." He also used a rather compelling metaphor to comment on the recent financial crisis: "You always find out who's been swimming naked when the tide goes out. We found out that Wall Street has been kind of a nudist beach." Thanks so much for that mental image, Mr. Buffett.

Regarding Fannie Mae (FNM) and Freddie Mac (FRE), Buffett waxed philosophical by observing, "They're too big to fail," but "that doesn't mean that the equity can't get wiped out, and it almost has." He added that he hasn't been approached to help with any potential bailout, so investors can take some comfort in knowing the government hasn't been forced to activate the Buffett-signal yet.

Buffett also commented on his recent Anheuser-Busch trade, wherein he sold two-thirds of Berkshire's stake in the brewmaster for $61 or $62 per share. He says he didn't expect the $65 buyout bid from InBev to go through, and admitted, "In retrospect, I was wrong to partially sell the holdings."

Finally, Warren added that he backs Illinois senator Barack Obama for president. With the kind of unshakable confidence unique to billionaires, he stated, "President Obama is going to have plenty on his plate in January."