Posted on 03/13/2009 8:38:10 AM PDT by GreatDaggar
Warren Buffett's Berkshire Hathaway was stripped of its 'AAA' credit rating by Fitch, barely hours after S&P cut General Electric's top-tier rating, as the global financial crisis pummels America's corporate titans.
Warren Buffett CNBC.com Warren Buffett
Citing concerns about Berkshire's [BRK 83150.00 -2550.00 (-2.98%) ] equity and derivatives investments, as well as Buffett's tight grip on the company, ratings agency Fitch cut the insurance and investment company's issuer default rating by one notch to 'AA+'.
The downgrade is another setback to Buffett, 78, coming a day after the billionaire lost his position as the world's richest man to Microsoft [MSFT 16.60 -0.41 (-2.41%) ] founder Bill Gates, according to Forbes' annual list. Buffett's net worth plunged to $37 billion from $62 billion last year, the list said.
(Excerpt) Read more at cnbc.com ...
lol!
Buffett - who’s that marxist working out for ya? Stupid demon-RAT
Warren Buffett CNBC.com Warren Buffett
But the Messiah told us things aren't that bad.
They can't be, can they? After all, he knows all, right? Right?
Will he ever stop lecturing us on how we should act?
I’m tired of being forced to be his Sancho Panza while Buffet engages in a Quixotic tilt for windmills.
Wonder what Moody’s will do?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.