 Posted: Tue, Feb 12 2008, 11:06 am EST Post subject: Stocks jump after Buffett offers muni bond insurance |
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| Stocks jump after Buffett offers muni bond insurance
By Tim Paradis, AP Business Writer NEW YORK — Stocks rose Tuesday after billionaire investor Warren Buffett disclosed an offer to help out troubled bond insurers, easing some of Wall Street's concerns about further deterioration in the credit markets. The Dow Jones industrials rose more than 150 points. In an interview on CNBC, Buffett said his Berkshire Hathaway holding company has offered a second level of insurance on up to $800 billion in municipal bonds. He made the reinsurance offer to bond insurers Ambac Financial Group (ABK), MBIA (MBI) and Financial Guaranty Insurance Co., known as FGIC. ... http://www.usatoday.com/money/markets/2008-02-12-stocks-tues_N.htm |
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