Wednesday, September 10, 2008

Buffet Bets Against Banks and Housing
Here is a below the fold article from the front page of today's Wall Street Journal's Money and Investing section. It states that a Berkshire Hathaway subsidiary will stop giving deposit insurance to banks above FDIC levels. I am surprised this news did not get more air play today. Buffet is clearly saying that bank failures are going to increase and this is a direct result of a housing market that continues to deteriorate. Investors should note Buffet's bearish stance on banks and housing.

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