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Cramer: Connecticut AG Blumenthal's Berkshire Probe "Insulting" to Buffett

All this morning on Squawk Box, CNBC's Becky Quick is reporting live on the weekend's Berkshire Hathaway Annual Shareholders Meeting, the event we at CNBC.com are calling Buffettstock '08.

She's reporting from one of Warren Buffett's favorite restaurants, Picollo Pete's.

Look for some of the video shot by the many CNBC cameras recording what goes on behind-the-scenes at the enormous event, which drew more than 31,000 people this year.

First up, an excerpt from Becky's interview with Buffett on the exposition floor Saturday morning. (See and read the transcript of the entire interview.)

Buffett told Becky he doesn't think Berkshire's big stake in Moody's creates a conflict of interest for the ratings agency, which recently gave Berkshire's new bond insurer a triple-A rating. Connecticut Attorney General Richard Blumenthal thinks it might, and it's part of his larger investigation into what went wrong at the credit rating agencies.

Buffett was polite. Jim Cramer is more direct, calling Blumenthal's look at Berkshire and Buffett an embarassment. Here's the video clip from this morning's Squawk.

Current Berkshire price:

CNBC's one-hour behind-the-scenes look at the annual shareholders meeting, The Billionaire Next Door: All Access, premieres tonight, Monday, May 5 at 9pm ET.

Questions? Comments? Email me at buffettwatch@cnbc.com

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