Warren Buffett at center of sub-prime scandal as largest shareholder of Moodys-BBC

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• Warren Buffett isn't necessarily smart, just happy to stick a knife in the back of the American middle class with the help of porn watchers at the SEC:

BBC, 6/2/10: "Billions of dollars of complex debts that were given the highest "AAA" rating by Moody's, Standard & Poor's and Fitch, went bad during the financial crisis.

• FCIC chairman Phil Angelides said in his opening remarks that
  
• Moody's had profited greatly from rating mortgage-backed debts.

He noted that the firm's revenues soared from $600m (£412m) in 2000 to $2.2bn in 2007, just as the US housing market bubble had peaked....

• Mr Buffett (is) the largest shareholder of the Moody's credit rating agency...

Mr Buffett may seem and may be a genial upstanding figure, but he is also a

• big player in all kinds of financial businesses which played their part
  
• in trashing the US economy

John Mervin, BBC World Business Report, New York"..."Warren Buffett defends credit ratings agencies"