Write-Offs: 02.28.11

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$$$ Warren Buffett said buying a home was the third-best investment he ever made, after the rings he bought for his first wife, Susan Thompson, and, after her death, his second wife, Astrid Menks. “For the $31,500 I paid for our house, my family and I gained 52 years of terrific memories with more to come,” Buffett wrote to shareholders of his Berkshire Hathaway. [Bloomberg]

$$$ "Thus, the lingering question in our mind is why Citi signed off on its 2007 10-K as having effective controls in light of such problems," said Mike Mayo. "This information is still relevant today because it reflects on the magnitude of the risk shortfalls and what we feel is the higher-than-perceived task of turning them around." Citi spokeswoman Shannon Bell said the bank has no comment on Mayo's report, but implied that his accusations were incorrect in discussing the company's accounting procedures. [TSC]

$$$ Americans Earn a `D' on Understanding How Credit Scores Work [Bloomberg]

$$$ Fed's Dudley Sees US Weather Oil Shocks [WSJ]

$$$JPMorgan May Need Another $4 Billion For Legal Losses [CNBC]

$$$ "I put a billion dollars in the studio's pockets and I put a half a billion dollars in creator Chuck's pocket,' Sheen ranted. "I should of been walking in to sandwiches, massages and hand jobs. Yeah, I said it!" [DM]

$$$Morgan Stanley Hacked in China-Based Attacks That Hit Google [Bloomberg]

$$$ Buffett vs. Lampert: A Tale of Two Letters [Jeff Matthews]

$$$ In win for Berkowitz, St. Joe CEO resigns [Reuters]

$$$ Charlie Sheen: “[Two and a Half Men creator] Chuck Lorre hasn’t even had the decency to call me. Explain to me why you’re making all of these rash dictatorial decisions without conferring with your star. I just don’t know what I did to piss everyone off so much. Other than like, roll in with gold and rock star presence, hit every mark and deliver like numbers.” [ML]

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