"Berkshire is buying $5 billion of perpetual preferred shares, New York-based Goldman said today in a statement. Goldman, which this week transformed itself from the biggest U.S. securities firm to the fourth-largest bank by assets, also plans to raise at least $2.5 billion by selling common stock in a public offering."
But wait! Didn't Bernanke and Paulson just get done saying a few hours prior that private capital would not invest?
Well Comrade Paulson and Comrade Bernanke? It appears that indeed private capital will invest, if the terms are good and the company sound.
Heh heh heh, a free market solution! Warren comes in and sticks a big wad of cash into Goldman Sachs - something that you said wouldn't happen without you offloading all of this bad debt onto the back of the taxpayer.
Folks, this is just dishonest. Buffett has publicly said that he would NOT have made the investment absent a belief that the bailout would go through:
BECKY: Does the backdrop of the Federal government potentially getting involved with a massive bailout plan for Wall Street, does that have anything to do with this deal?
BUFFETT: Well, I would say this. If I didn't think the government was going to act, I would not be doing anything this week. I might be trying to undo things this week. I am, to some extent, betting on the fact that the government will do the rational thing here and act promptly. It would be a mistake to be buying anything now if the government was going to walk away from the Paulson proposal.
http://www.cnbc.com/id/26867866
This was written before those comments were made.
Buffet is part of the program. And he obviously has inside information about this bailout going through. People with that kind of money have friends in high places. Of course he does not want people to think the bailout is not needed. You see he has just set himself up to get Rich off this bailout. Taxpayer money into the pocket of Warren Buffet. Get it now.