Rubber Duck
12th February 2008, 06:05 PM
(Open): US shares rose in early Tuesday trading, advancing after plans announced by billionaire investor Warren Buffett delighted investors.
Mr Buffett said his investment vehicle Berkshire Hathaway had offered to take over the liabilities of struggling bond insurers including MBIA and Ambac.
The Dow Jones advanced 66 points to 12,306, the Nasdaq added 15 points to 2,335, and the S&P was up seven points.
Mr Buffett's announcement overshadowed annual losses from General Motors.
http://news.bbc.co.uk/1/hi/business/3663325.stm
Buffet is offering rock bottom prices to the struggling Bond Insurers, and Wall Street celebrates.
What this means is that these guys are in such a mess, he feels confident enough to offer Rock bottom prices for their risk free portfolio's so they can pay the Bills next month. Is Wall Street full of total incompetents? The only person this is good for is Buffet. Wall Street looses more liquidity. These guys would be selling their future for a song, and Buffet just keeps rolling.
Mr Buffett said his investment vehicle Berkshire Hathaway had offered to take over the liabilities of struggling bond insurers including MBIA and Ambac.
The Dow Jones advanced 66 points to 12,306, the Nasdaq added 15 points to 2,335, and the S&P was up seven points.
Mr Buffett's announcement overshadowed annual losses from General Motors.
http://news.bbc.co.uk/1/hi/business/3663325.stm
Buffet is offering rock bottom prices to the struggling Bond Insurers, and Wall Street celebrates.
What this means is that these guys are in such a mess, he feels confident enough to offer Rock bottom prices for their risk free portfolio's so they can pay the Bills next month. Is Wall Street full of total incompetents? The only person this is good for is Buffet. Wall Street looses more liquidity. These guys would be selling their future for a song, and Buffet just keeps rolling.