May 1, 2009
Bloomberg and CNBC with Charlie Munger
It looks like the people at Bloomberg intend on splitting the interview into snippets and spreading them across the afternoon broadcast. I’ll update this post as I see more from it. But I just caught this:
Bloomberg: What do you think about the recent AAA ratings change by Fitch and Moody’s?
Charlie Munger: We would naturally prefer the rating that we formerly had. Berkshire is of marvelous credit. If you asked my if I agreed with the ratings change I would say.
Bloomberg: What kind of reform for CDS market?
Charlie Munger: I’ll give you an answer that will surprise you. If I were the governor of the world I would eliminate it entirely. 100%. That’s the best solution. It isn’t as though the economic world didn’t function quite well without it. And it isn’t as though what has happened has been so wonderfully desirable that we should logically want more of it.
You’ve got to love the fact that Munger doesn’t mince any words. Also, be sure to check out which many of you have probably already read.
CNBC also did :
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