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« FCIC Chair Angelides: Moody's, S&P & Fitch 'Were Central Cause' Of Financial Crisis (WATCH) | Main | CITIZEN CANDIDATES: More than 2,300 running for Congress, most in decades »
Wednesday
Jun022010

Buffett Discusses FCIC Testimony On Ratings Reform -- Tries To Distance Himself From Moody's (WATCH)

The most interesting part of this clip is Buffett's assertion, out of the blue, that he barely knows Moody's CEO Raymond McDaniel, and that he couldn't pick him out in a room.  Why is this interesting?  Because as we reported last month, Moody's received a Wells Notice from the SEC and both McDaniel and Buffett sold millions of shares on the exact day the notice was received.

So Buffett is attempting to distance himself in every way possible from McDaniel.  It won't work.  The problem for Uncle Warren are the facts.  And the SEC.  And they're looking.

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Video:  June 2 (Bloomberg) -- Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., talks with Bloomberg's Betty Liu about his company's stake in Moody's Corp. Buffett, speaking before his scheduled appearance at the U.S. Financial Crisis Inquiry Commission in New York, also discusses his relationship with Moody's executives and the performance of ratings companies.

 

 

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Reader Comments (4)

Did Warren Buffett & Berkshire Sell A Million Shares Of Moody's Based On Inside Information?

http://dailybail.com/home/did-warren-buffett-berkshire-sell-a-million-shares-of-moodys.html
Jun 2, 2010 at 6:51 PM | Registered CommenterDailyBail
AZ Gov. Brewer To Obama If He Challenges Law: "We'll Meet You In Court"

JOHN KING, CNN HOST: And if his answer is 'I'm going to do what I announced. Your law is misguided and my Justice Department might sue you.' GOV. JAN BREWER (R-AZ): I would say 'well, we'll meet you in court.' I have a pretty good record of winning in court.

VIDEO

http://www.realclearpolitics.com/video/2010/06/02/az_gov_brewer_to_obama_if_he_challenges_law_well_meet_you_in_court.html
Jun 2, 2010 at 6:53 PM | Registered CommenterDailyBail
NBC Reporter Confuses "Obama" With "Osama"

NBC's Pentagon correspondent Jim Miklashevski discussing the death of al-Qaeda's number 3: "So the question that has to be asked now, how long did US intelligence sit on Al-Masri, keeping track of where he was going and who he was talking to, and what kind of information were they able to glean that might have led them or be able to lead them to either Obama or Zawahiri."

VIDEO

http://www.realclearpolitics.com/video/2010/06/01/nbc_reporter_confuses_obama_with_osama.html
Jun 2, 2010 at 6:54 PM | Registered CommenterDailyBail

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