Wednesday, June 2, 2010

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

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.

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 may seem and may be a genial upstanding figure, but he is also a
John Mervin, BBC World Business Report, New York"..."Warren Buffett defends credit ratings agencies"

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