Saturday, December 29, 2007

Buffett starts up bond insurer to rival MBIA, Ambac (Reuters)



Warren Buffett, chairman and CEO of Berkshire Hathaway, speaks in Washington, November 14, 2007. Berkshire Hathaway Inc has won expedited licensing for a new bond insurance unit, New York State Insurance Superintendent Eric Dinallo said on Friday. (Jason Reed/Reuters)Reuters - Warren Buffett's Berkshire Hathaway
Inc (BRKa.N) (BRKb.N) is starting a bond insurer that would
help state and local governments lower their borrowing costs,
and is likely to lure business from established rivals
struggling with credit market turmoil.




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