did buffet force a correction? he pretty much laid out how badly off the bond insurers were, he called bullshit on mbia and he let everyone know it.

yeah, some of the bobbleheads on cnbc were calling it a “bailout”, but others recognized the truth of it…

the bond insurers are f’d either way, deal or no deal. mortgage securities are going to be repriced sooner than later because of this, because buffet killed all illusions of bailouts. and i’m not sure he’s really interested in dealing with muni bonds either as recession, falling revenues could hammer them as well… maybe a pump and dump deal? build the business and sell it off asap?