Does Kansas Bankers Surety’s decision to no longer insure excess bank deposits (over the FDIC $100,000 limit) make anybody else nervous besides me? KBS is one of Warren Buffett’s companies, and according to the Wall Street Journal, the Big Guy himself was the one who raised the issue. The official reason given is that KBS couldn’t get reinsurance (insurance on the insurance they provide), but considering Berkshire Hathaway owns an reinsurance company, it seems a little strange. Hmmm…if true, ya gotta wonder whether this says something about Buffett’s view of the current banking situation…and just what that might be.
Filed under: Miscellaneous | Tagged: Banking, buffett, KBS, reinsurance
