Billionaire financier Warren Buffett has offered to re-insure $800 billion in muni bonds. Markets in the U.S. and Europe welcome the news, but at least one of the bond companies has already said no to Buffett's offer. Stories all over Google News say it's great for Buffett, bad for the bond companies.
http://news.google.com/news?sourceid=navclient&hl=en&ned=us&q=buffett&ie=UTF-8&um=1&sa=N&tab=wn
http://blogs.wsj.com/deals/2008/02/12/a-buffett-in-sheeps-clothing/?mod=googlenews_wsj
