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Keyword: bondsbailout

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  • BOND RESCUE PLAN - BAILOUT BY BUFFETT

    12/29/2007 8:39:21 PM PST · by Ernest_at_the_Beach · 17 replies · 415+ views
    New York Post ^ | December 29, 2007 | PAUL THARP
    Warren Buffett is renting out his gold-plated name to cash-strapped cities across America so they can now borrow under his protec tive wing - and, of course, pay him dearly for the lifeline. As the financial serv ices industry remained mired in turmoil over its own shaky credit woes, Buffett yesterday launched a new insurance company to help municipalities find insurance for backing up their bonds - of which they sell hundreds of billions to investors to finance operations. Many major bond insurers that traditionally dominated the $2.5 trillion municipal borrowing world are on the ropes, wracked by their own...