Buffett Testifies That He Saw Early Signs of Freddie Mac's Woes

[Guest]

Buffett Testifies That He Saw Early Signs of Freddie Mac's Woes

By David S. Hilzenrath
Washington Post Staff Writer
Wednesday, October 31, 2007; Page D03

Billionaire investor Warren E. Buffett sat in front of a video camera in Omaha, spelled his name for the record and minced no words as he testified for the government yesterday in its case against former Freddie Mac chief executive Leland C. Brendsel.

Brendsel is accused of presiding over accounting manipulations and running Freddie Mac in a reckless manner. Buffett, one of the most successful and revered investors, sold a huge stake in the mortgage funding company before the manipulations came to light, and the government wanted him to explain why.
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http://www.washingtonpost.com/wp-dyn/content/article/2007/10/30/AR2007103002292.html

[blsh]

This just shows how good Buffett is in checking out good and bad companies. I can entrust my hard-earned money with him and be able to sleep well.

(Full disclosure: I still own a small number of BRK.B shares.)