By Hugh Son and Jamie McGee
Sept. 15 (Bloomberg) -- Billionaire Warren Buffett said he was approached a year ago about insuring Lehman Brothers Holdings Inc.’s assets before the investment bank filed for bankruptcy and didn’t receive financial documents he requested.
Buffett was asked about backing Lehman while Barclays Plc weighed a bid for the firm, he said today at a conference. He didn’t receive the information that he requested be sent to him by facsimile and later learned that there was a voice mail that he missed because he didn’t know how to retrieve it, Buffett said. New York-based Lehman filed for bankruptcy a year ago.
Buffett made the comments at a conference sponsored by Fortune magazine as he discussed unsuccessful efforts last year by money-losing firms to get financial support from his Berkshire Hathaway Inc. American International Group Inc., the insurer that got a U.S. bailout the day after Lehman’s failure, also sought a lifeline from Buffett, he said.
“Don’t waste your time on me,” Buffett said he told Robert Willumstad, then the chief executive officer of AIG, after reviewing the insurer’s finances.
Brandon Ashcraft, a spokesman for Barclays, and AIG’s Christina Pretto declined to comment.
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