Warren Buffett Will Save Us All

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The holding company already made the offer of reinsurance, he said, to insurers Ambac, MBIA and FGIC, all of whom have had problems with subprime mortgages and other loans and are in danger of losing their AAA credit ratings. One firm rejected the offer, and he is still waiting to hear from the other two. The offer is designed to make Berkshire Hathaway money, he added; it's not just "a good deed."
Warren Buffett Offers to Reinsure $800B in Municipal Bonds [CNBC]

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