Buffett's time bomb goes off on Wall Street | U.S. | Reuters

Buffett's time bomb goes off on Wall Street U.S. Reuters: "Buffett's 'time bomb' goes off on Wall Street
Thu Sep 18, 2008 1:42pm EDT
By James B. Kelleher - Analysis

CHICAGO (Reuters) - On Main Street, insurance protects people from the effects of catastrophes.

But on Wall Street, specialized insurance known as a credit default swaps are turning a bad situation into a catastrophe."