Eight days ago, on Sept, 24, 2008, the NY Times announced that Warren Buffett would buy a $5 billion stake in Goldman Sachs, the financial firm that Henry Paulson ran before becoming Secretary of the Treasury, the financial firm that was saved by Paulson when he decided to bail out AIG which owed Goldman Sachs $20 billion and to let Goldman's main competitor, Lehman Brothers, go under. Yesterday, the NY Times annnounced that Warren Buffett would make a $3 billion investment in GE, primarily a financial services firm, at an extraordinary discount. Today, CNN is featuring Buffett pronouncing certain knowledge that the currently proposed bailout must be passed and that more heaps of money will have to be given to these firms in future bailouts.
We all know Buffett is an astute investor and that he knew full well what he was getting into by investing in these firms. What we only suspected before this was that the bailout was a corrupt scheme to give away hundreds of billions of dollars of taxpayer money to the Bush Administration and its cronies, but Buffett knew it, that's why he took these positions and then started shilling for the bailout(s).
Buffett knew the fix was in and with no risk and very little effort he would realize 500-1000%, maybe more, on his money in six months or less. So to anyone who tells you that the crisis is real and the bailout necessary just point to Warren Buffett and his involvement. Warren Buffett is going to profit in the tens, if not hundreds of billions of dollars, from the unnecessary and corrupt bailout(s). Count on it.