Buffett backs Moody’s at US hearing
Berkshire Hathaway’s Warren Buffett, compelled by subpoena to testify, backed Moody’s at a hearing yesterday, defending the ratings agency in which Berkshire has a holding against criticism it misled investors.
Moody's, which gave faulty AAA-ratings to mortgage bonds, was simply one of many firms that failed to foresee the housing slump, Mr Buffett told the Financial Crisis Inquiry Commission.
Mr Buffett's
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