bobbyw24
08-29-2011, 06:20 AM
Tim Carney notices a trend in the close relationship between billionaire Warren Buffet and the Obama administration:
When Wall Street nearly collapsed in September 2008, Buffett rallied behind the Troubled Asset Relief Program, and bet big on its passage. He put $5 billion into failing investment bank Goldman Sachs. “If I didn’t think the government was going to act, I would not be doing anything this week,” Buffett said on CNBC at the time. …
Goldman got $10 billion in TARP funds, and by late 2009 was reporting record profits. Buffett made more than $3.6 billion in profit off the investment. …
In this light, and recalling his Goldman-bailout profit, consider Buffett’s investment last week in Bank of America.
http://sayanythingblog.com/entry/barack-obama-and-warren-buffet-crony-capitalist-buddies/?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed%3A+SayAnything+%28Say+Anything%2 9
When Wall Street nearly collapsed in September 2008, Buffett rallied behind the Troubled Asset Relief Program, and bet big on its passage. He put $5 billion into failing investment bank Goldman Sachs. “If I didn’t think the government was going to act, I would not be doing anything this week,” Buffett said on CNBC at the time. …
Goldman got $10 billion in TARP funds, and by late 2009 was reporting record profits. Buffett made more than $3.6 billion in profit off the investment. …
In this light, and recalling his Goldman-bailout profit, consider Buffett’s investment last week in Bank of America.
http://sayanythingblog.com/entry/barack-obama-and-warren-buffet-crony-capitalist-buddies/?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed%3A+SayAnything+%28Say+Anything%2 9