Connecticut Attorney General Richard Blumenthalsays his look at a possible conflict of interest involving Warren Buffett's Berkshire Hathaway and Moody's is "simply one facet" of a broader investigation into the credit rating agencies.
In an interview today (Thursday) with NBC station WVIT in Hartford, Blumenthal calls the Berkshire-Moody's relationship a "symptom of flaws in a system rife with conflicts of interest and problematic relationships."
As we related in a WBW post earlier today, Bloomberg first reported that Blumenthal is looking at whether it is improper for Moody's to give Berkshire Hathaway's new bond insurer a high rating, when Berkshire is also Moody's largest shareholder.
We asked WVIT to talk to Blumenthal on-camera about his investigation. They did, and here's the video clip.