Warren Buffett on the Housing Bubble: ‘Yeah, I Blew It’

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The Oracle of Omaha is testifying in front of the Financial Crisis Inquiry Commission this morning about the role of the credit-ratings agencies, particularly Moody's, of which Berkshire Hathaway is a large shareholder. To the usual questions ("Why didn't you see the housing bubble?") he was just asked, according to the Journal's awesome live blog, he is giving some unusual responses ("Gives a long answer touching on the tulip mania of the 17th century in the Netherlands, among other things. But then, concludes. 'Yeah, I blew it'"). [MarketBeat/WSJ]