Post #4372 by nola622 on the Berkshire Hathaway board

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Thanks for sharing that. After listening to the interview I'm pretty convinced that his reason for taking BNSF out of National Indemnity was to add resilience / bulkheads to the structure of the enterprise.

Especially considering that National Indemnity is already hugely overcapitalized and BNSF was not being given credit for "market value" in terms of regulatory capital.

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