On February 12, 2008, Warren Buffett announced that he would help insure municipal bonds, through his company Berkshire Hathaway. The insurance would offer a second layer of protection up to $800 million. Berkshire Hathaway would charge a heavy premium on this insurance, offering it to Ambac, MBIA and FGIC. This insurance would, however, not be offered to cover mortgage-backed loans.
Buffett Muni Bonds Blogs and Commentaries
AOL Money & Finance: Buffett Offers to Back Municipal Bonds (February 12, 2008)
24/7 Wall St.: Warren Buffett Ready To Save Muni Bond Insurance (February 12, 2008)
Portfolio.com: Buffett Into Municipal Bonds Market (February 12, 2008)
BloggingStocks: Warren Buffett offers to reinsure $800 billion in municipal bonds (February 12, 2008)
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