That would effectively give those bonds a AAA credit rating. So far, he says one insurer has turned him down and he hasn't heard from the other two.
This is a transcript of this morning's live phone conversation:
Wednesday, February 13, 2008
Buffett's Big Muni Bond Offer: CNBC Interview Transcript
This morning on CNBC's Squawk Box, Warren Buffett publicly revealed for the first time that he has offered to reinsure $800 billion in municipal bonds now covered by the troubled insurers MBIA, Ambac and FGIC.
That would effectively give those bonds a AAA credit rating. So far, he says one insurer has turned him down and he hasn't heard from the other two.
This is a transcript of this morning's live phone conversation:
That would effectively give those bonds a AAA credit rating. So far, he says one insurer has turned him down and he hasn't heard from the other two.
This is a transcript of this morning's live phone conversation:
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