Before heading in to answer his subpoena from the FCIC, Warren Buffett tells CNBC that the...

|By:, SA News Editor

Before heading in to answer his subpoena from the FCIC, Warren Buffett tells CNBC that the market will keep demanding "brand name" credit ratings even if the government encourages competition. "Rating agencies sort of evolved into this national duopoly" where Moody's (MCO) and S&P (MHP) were "there first" and have pricing power, he says. (earlier)