That's no reason to distort the news about his recent bid to take over the profitable parts of the bond insurers portfolios.
Buffett has offered to re-insure all the municipal bonds that the monolines now insure in return for them paying him 1.5 times the total premiums they have received. This means that Buffett would take only the good stuff from the monolines, have them pay him to do so and leave them with the part of the Big ShitPile they own.
Nonetheless, NPR cast Warren as a hero:
Buffett Offers Rescue Plan for Bond Insurers
Morning Edition, February 13, 2008 · Bond insurers lost big when they got involved with complex mortgages securities. Now Warren Buffett is throwing a lifeline to these struggling companies. The billionaire investor offered to back up $800 billion worth of bonds guaranteed by them.
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