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Warren Buffett buys $US5b stake in Bank of America

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posted on Aug, 25 2011 @ 04:26 PM
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Warren Buffett will invest $US5 billion in Bank of Americs Corp, stepping in to shore up the largest US bank in the same way he helped prop up Goldman Sachs and General Electric during the financial crisis. Read more: www.smh.com.au...


www.smh.com.au...

So people buffet says the rich should pay more and i didnt see the fellow cut of check to the federal governemnt so instead what did he do?

Goes and buys a bank that was bailed out buy the government this stuff is truly pricesless

buffet stands to make 400 million off the deal



Remember the latest Bank of America (BAC) bailout, the one we were all so steamed about last week? (The $20 billion of cash and $100+ billion of trash-asset guarantees that absolutely had to be given or else Bank of America shareholders might have lost everything?) Read more: www.businessinsider.com...


www.businessinsider.com...

i am telling you for a dude that is suppose to be smart all i see is stupidity no one in therir right mind would have touched bank of america.



edit on 25-8-2011 by neo96 because: (no reason given)




posted on Aug, 25 2011 @ 04:39 PM
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BoA will probably get another bail-out pretty soon and he'll profit from that.



posted on Aug, 25 2011 @ 04:51 PM
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what i dont understand is,,,, why the boa just say,,
"that will be 5 billion in gold please."
mr buffett.



posted on Aug, 25 2011 @ 06:41 PM
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Good to see you Neo!!! Been a while.

I actually agree with you. Buffett is all hype. That $5 billion could have built new schools for almost every child in the US. This is like his work with Gates for African aid...the last large untapped market. It ain't about being a nice guy, it is about obsession with amassing wealth.



posted on Aug, 25 2011 @ 06:45 PM
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Wasn't buffet in marthas vineyard with the president 4 days ago? Interesting how that stimulus plan Buffet was helping with turned into a figure head investing.

Fishing in an empty barrel



posted on Aug, 25 2011 @ 06:56 PM
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You know how bad things are going in this nation, when the rich are bailing each other out in order to preserve their wealth.

The revolving debt is like a vicious cycle that will never stop, meanwhile the corrupted trash in power will keep leaching the tax payer until is nt going to be any tax payer in the country with a meaningful job to pay for anything anymore.



posted on Aug, 25 2011 @ 07:13 PM
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buffett made a calculated decision... because he knows which side of the bread gets buttered..

Absolutely.... No risk involved with his $5Bn pony-up money



posted on Aug, 25 2011 @ 07:26 PM
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reply to post by St Udio
 


Occurs not, he is making a killing and will be backed by tax payer dollars, one of the firm he invested into in 2008, got 95 billion dollars from tax payers, he knows what he is doing, he is in the business of making money no losing it.

Too bad that with all that money he can not buy mortality and to live for ever, he will die and will take only the clothes his corpse will be wearing on his funeral.



posted on Aug, 25 2011 @ 07:30 PM
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I got into it about Buffett with so many people lately. They seem to think he's a saintly billionaire, living in a crappy house in Omaha and just amassing wealth and not enjoying it, saying that the middle class needs some money. This proves to all, he's about the money first.



posted on Aug, 25 2011 @ 09:38 PM
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Why would he cut a check to the fed? I'm not understanding your line of thought, Neo.

Wanting the same tax percentage acorss the board doesn't obligate him to cut a check to the fed unless changes are made and everyone is legally obligated to.



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