Hi,
Warren Buffett offered to reinsure $800 billion in municipal bonds now insured by Ambac, MBIA and FGIC. In my pervious posted Warren Buffett Going to Save Bond Insurance.
According to New York post BOND $TALKING ACKMAN, BUFFETT WANT RISKS' REWARDS
Buffett, 77, who built a huge fortune on nuts-and-bolts insurance, has coveted the bond-insurance world's only treasure chest - its ultra-safe bets on municipal borrowing, since local governments almost never go bust.
In Dec 2007, Warren Buffett's Berkshire Hathaway creates a bond insurer Called Berkshire Hathaway Assurance Corporation. In January we saw Berkshire Hathaway Assurance Corporation making some move in the bond insurance.
For more information:
Interview with Warren Buffett on Bond Insurance
Warren Buffett Not Interested In Other Bond Insurers
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