FWMD FOOL

Warren Buffett's Berkshire Hathaway Inc is pushing Congress to weaken proposed legislation on the regulation of derivatives to exempt it from having to post billions of dollars of collateral, The WSJ Reported.

Berkshire wants legislation that largely exempts existing derivatives contracts from proposed rules, the newspaper said. The company says it is healthy enough to cover its obligations, especially given that it has $20 billion of cash, and should not have to modify existing contracts, the newspaper said.