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.
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.