From: iStockAnalyst @ iStockAnalyst.com
The famed US businessman — nicknamed the Sage of Omaha for sought after investment acumen — acknowledged in testimony to the Financial Crisis Inquiry Commission the rating agencies had “made the wrong call” by giving overly positive grades to mortgage- related products before the housing market collapsed.
Speaking in New York he said the US had been in “mass delusion” for not recognizing that the housing market had overheated and said he counted himself among those who didn’t see the crash coming.
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