Hi,
CNBC Buffett Watch report Warren Buffett's Muni Bond Insurer "Tip-Toes" Into Market With $10M NYC Bond. Berkshire Hathaway brand-new municipal bond insurer, Berkshire Hathaway Assurance Corporation has sold its first coverage, backing a $10 million bond issued by New York City yesterday.
Ajit Jain, who runs Berkshire's insurance businesses, received a telephone call from Eric Dinallo. Mr. Dinallo encouraged Mr. Jain to use Berkshire Hathaway's expertise and $40billion-plus of capital to help the troubled municipal bond insurance sector.
Mr. Warren Buffett said that he would not make the same mistakes by charging too little and taking on too much risk. He comments that is the causes for many problems for long-time insurers. New unit: "Berkshire Hathaway Assurance Corp." will stick to the basics, won't go chasing higher returns and charge too little for his bond insurer's services. Read pervious report on CNBC Buffett Watch: Warren Buffett Promises to Stay on the Straight and Narrow with His New Bond Insurer.
CNBC also make a live interview with Ajit Jain at Berkshire Hathaway's Jain Tells CNBC He's Talking "Right Now" With Bond Insurers About Possible Purchase or Partnership. Following links provide more News and information about Berkshire Hathaway brand-new municipal bond insurer, Berkshire Hathaway Assurance Corporation:
Credit squeeze woes open the way for Buffett
Warren Buffett's Berkshire May Invest in Bond Insurer (Update4)
Buffett's bond insurer
Credit market fears open the way for Buffett
Buffett Makes 1st Foray in Muni Bond Insuring-Sources
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