Warren Buffett said on Tuesday that he has offered to help out troubled bond insurers by offering a second level of insurance on up to $800 billion in municipal bonds.

In an interview on CNBC (video link of the phone interview can be found here) he stated that he has offered to help out the bond insurers, however he was quick to point out that it wasn’t an altruistic gesture – he was doing it to make money.

At the time of the interview, they had been turned down by one company, and Buffett stated that the others were "not leaping at the door" to accept his offer.