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Buffett'd: Berkshire Hathaway Loses AAA Credit Rating
CNBC ^

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 ...


TOPICS: Business/Economy
KEYWORDS: buffett; warrenbuffett; wizardofsmart

1 posted on 03/13/2009 8:38:10 AM PDT by GreatDaggar
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To: GreatDaggar

lol!


2 posted on 03/13/2009 8:40:05 AM PDT by ken21 (the only thing we have to fear is fdr deja vu.)
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To: GreatDaggar

Buffett - who’s that marxist working out for ya? Stupid demon-RAT


3 posted on 03/13/2009 8:41:46 AM PDT by rigelkentaurus
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To: GreatDaggar
...as the global financial crisis pummels America's corporate titans.

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?

4 posted on 03/13/2009 8:42:04 AM PDT by NorCoGOP (Recession: friend loses his job. Depression: You lose your job. Recovery: Obama loses his job.)
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To: GreatDaggar

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.


5 posted on 03/13/2009 8:44:02 AM PDT by MediaMole
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To: GreatDaggar

Wonder what Moody’s will do?


6 posted on 03/13/2009 8:44:18 AM PDT by fml
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To: GreatDaggar
How's that "hope and change" working out for you, Warren? I'm sure your investors aren't thrilled with it.
7 posted on 03/13/2009 8:47:18 AM PDT by Major Matt Mason (The Kenyan Keynesian will bankrupt this nation.)
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