Warren Buffett to Testify In Front Of The Financial Crisis Inquiry Commission

Billionaire investor Warren Buffett has been asked to appear before the Financial Crisis Inquiry Commission in connection with a probe of bond-rating firm Moody’s Corp. MCO. According to the Wall Street Journal, Moody’s (MCO), along with Standard & Poor's, has already attended several congressional hearings over the issue of their optimistic rating of mortgage bonds. The FCIC has been created to investigate the causes of the financial breakdown. The commission is headed by former California Treasurer Phil Angelides. Moody’s has responded, “We support the FCIC's important work of understanding the causes of the financial crisis. We appreciate the opportunity to speak on the role of credit ratings and provide our views and analytical insights." Six current and former Moody’s executive will also testify alongside Warren Buffett.