Berkshire Hathaway’s (NYSE: BRK-B) Warren Buffett Subpoenaed By FCIC
The Financial Crisis Inquiry Commission (FCIC) has subpoenaed Berkshire Hathaway (NYSE: BRK-B) CEO Warren Buffet after the highly regarded investment guru turned done two invitations to testify before the Committee.
The FCIC first contacted Buffett on May 12 when Wendy Edelberg, executive director of the commission, sent a letter to him saying that his views on several financial topics would be of “great value” to the group.
According to the request, the FCIC wanted to discuss the misuse of derivative investments, rating agencies and too big to fail.
Buffett turned down the request as he associated testimony before the FCIC with those who were generally implicated in the financial crisis.
The FCIC followed with another request on May 17 requesting a “private interview” with a possible hearing to follow, to which Buffet again politely declined.
The third request, a subpoena, cannot be declined by Buffet and states during his testimony questions will be focused on the credit rating agencies.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.