Blog on the Run: Reloaded

Friday, May 28, 2010 8:39 pm

Warren Buffett, come on down


I noted that billionaire Warren Buffett dumped a bunch of Moody’s stock (as did company CEO Raymond McDaniel) the same day Moody’s received a Wells notice, which is formal notification from the government that it intends to get a legal order to stop Moody’s from rating securities. Which is, you know, pretty much the bulk of what Moody’s does.

Well, as a result of that, Buffett was invited to testify before the Financial Crisis Inquiry Commission. He declined. What happened next?

FCIC:* Uh, dude? When we said “invite,” well, we were just being polite.

Buffett:* Screw you.

FCIC:* I will ask you once more. Nicely.

Buffett:* SCREW. YOU.

FCIC: (issues subpoena).

Which is interesting, but this gets better as Tyler Durden at Zero Hedge notes that this investigation “obviously revolve[s] around Buffett … Moody’s is merely a smokescreen.”

Fascinating.

*possibly not a direct quote

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