Did Warren Buffett & Berkshire Sell A Million Shares Of Moody's Based On Inside Information?
Mar 20, 2013 at 7:57 PM
DailyBail in insider trading, insider trading, moody's, rating agencies, raymond mcdaniel, warren buffett, warren buffett, wells notice


The other story in the Ratigan clip is pretty sweet if you're into corruption by the rating agencies and Warren Buffett.  It seems Moody's CEO Raymond McDaniel and Uncle Warren both sold shares heavily in Moody's the same day a Wells Notice was received from the SEC.  This occurred over 2 months ago; the CEO sold 100,000 shares on the day the Wells Letter arrived and Buffett sold a total of 1 million shares that same day and in the week following.

Yet none of this was disclosed by Moody's until Friday afternoon, when they buried the very material information deep in a 10-Q.  It is very possible that Buffett was tipped by McDaniel, considering that Berkshire is Moody's largest shareholder. 

How would that be any different from the Martha Stewart case except that Uncle Warren and Berkshire saved millions while Stewart only saved herself thousands?  Granted, Stewart lied to Federal prosecutors and was punished for obstructing justice, yet the similarities are striking between the cases.

Mark Cuban was correct yesterday.

Robert Khuzami, we're watching.



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