Berkshire faces U.S. scrutiny on systemic risk - Bloomberg..
Posted in the Banking Forum
#1 Jan 24, 2014
Read this: Jan 22 (Reuters)- The U.S. risk council is looking to determine whether Warren Buffett's Berkshire Hathaway Inc could be systemically important, a tag that would subject it to stricter regulatory oversight, Bloomberg reported, citing two people familiar with the matter.
The U.S. Financial Stability Oversight Council's (FSOC) study of Berkshire may not mean the panel is inclined to designate the Omaha, Nebraska-based company, Bloomberg said.()
Berkshire was not immediately available to comment, while the U.S. Treasury declined to comment.
The council, led by Treasury Secretary Jacob Lew, is evaluating which non-bank financial companies could threaten financial stability if they were to fail, Bloomberg reported.
The point: It takes a sound mind to manage wealth and prosperity...Warren Buffet is not one among them! In the same token, Bill Gates has nothing to prove! Playing stocks to show wealth is a dangerous game!!!
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