The most interesting part of this clip is Buffett's assertion, out of the blue, that he barely knows Moody's CEO Raymond McDaniel, and that he couldn't pick him out in a room. Why is this interesting? Because as we reported last month, Moody's received a Wells Notice from the SEC and both McDaniel and Buffett sold millions of shares on the exact day the notice was received.
So Buffett is attempting to distance himself in every way possible from McDaniel. It won't work. The problem for Uncle Warren are the facts. And the SEC. And they're looking.
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Video: June 2 (Bloomberg) -- Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., talks with Bloomberg's Betty Liu about his company's stake in Moody's Corp. Buffett, speaking before his scheduled appearance at the U.S. Financial Crisis Inquiry Commission in New York, also discusses his relationship with Moody's executives and the performance of ratings companies.
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