Why go public? It seems to me that Buffett is trying to put some pressure on those insurers to take the deal by talking about how the financial world would be reassured should all those bonds get Buffett's AAA backing.
New York State's top insurance regulator, Eric Dinallo, has issued a statement saying, "I am pleased that this provides one option to protect municipal bond issuers and investors."
STOCKS IN 'GENERAL RANGE OF FAIR VALUE'
During the conversation, which lasted nearly half-an-hour, Buffett also said he thinks stocks right now are in the "general range" of fair value.
He also answered questions on a number of other topics, including a plan from six financial lenders to reduce foreclosures, the Presidential election, and his U.S. dollar "worth less" comment last week in Toronto.