How Billionaires Invest And Get Richer
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800 billion of bonds for MBIA, Ambac Financial and Financial Guaranty Insurance. Buffett's plan would permit the trio to regain a firmer monetary footing and inject confidence into the debt markets. There's a catch though: Buffett solely desires municipal bonds, which are at relatively low risk of defaulting. He's offering to insure low-risk debt for a hefty fee.
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