Warren Buffett's Berkshire Hathaway Inc. has told one of its subsidiaries to stop insuring bank deposits above the amount guaranteed by the federal government, dealing a fresh blow to the financial-services industry as it tries to assuage anxious customers.
If you needed an OMG! moment, there it is. Katie bar the door. Berkshire, in Blow to Banks, Reins In Its Deposit Insurer - WSJ.com |