Comments on: Subprime lines lead to global recession http://mortgageblues.us/news/386 Before, During, and After Subprime Tue, 11 May 2010 14:24:07 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Nancyhttp://mortgageblues.us/news/386/comment-page-1#comment-1215 Nancy Sat, 08 Mar 2008 20:16:50 +0000 http://mortgageblues.us/news/386#comment-1215 Billionaire investor Warren Buffett said yesterday that the US economy was in recession and that stocks were "not cheap" despite recent declines.Buffett also said he was no longer offering to guarantee US$800 billion of municipal bonds backed by MBIA, Ambac and FGIC, three bond insurers that ran into trouble from backing riskier debt. Speaking on CNBC television, Buffett said the economy was heading south even though gross domestic product had not yet fallen for two straight quarters, a definition commonly used to identify a recession. Billionaire investor Warren Buffett said yesterday that the US economy was in recession and that stocks were “not cheap” despite recent declines.

Buffett also said he was no longer offering to guarantee US$800 billion of municipal bonds backed by MBIA, Ambac and FGIC, three bond insurers that ran into trouble from backing riskier debt. Speaking on CNBC television, Buffett said the economy was heading south even though gross domestic product had not yet fallen for two straight quarters, a definition commonly used to identify a recession.

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