Buffett's Berkshire betting $5 billion on Goldman
Wednesday September 24, 12:09 am ET
By Anna Jo Bratton, Associated Press Writer
In big vote of confidence, Buffett's Berkshire buying at least $5 billion stake in Goldman
OMAHA, Neb. (AP) -- One of the world's shrewdest dealmakers is betting $5 billion of his investors' money that the U.S. financial system is not about to collapse. Warren Buffett's Berkshire Hathaway Inc. said Tuesday it investing at least $5 billion in Goldman Sachs Group Inc., a huge vote of confidence for one of the survivors of the credit crisis that felled two of its investment banking peers.
In addition to buying $5 billion in preferred stock, Berkshire also got warrants to buy another $5 billion in Goldman's common stock. Goldman also said late Tuesday it would raise another $2.5 billion in its own public stock offering.
Got that, everyone.
One of the most savvy investors on the planet just pumped $5B into GS and took warrants on an additional $5B of Goldman equity.
Ask yourself, what is the message.
For starters, Warren Buffett is one of Senator Obama's key economic advisers.
Next, Warren Buffett has just told every member of the Senate and the Congress what ANY INVESTOR should receive for ANY $$ they invest in ANY financial institution - EQUITY and then some.
So, why would ANY tax payer expect ANYTHING LESS?
Game.
Set.
Match.
Championship.
NO BAILOUT.
If some financial institution wants a tax payer dollar then that tax payer gets equity and full shareholder rights.
Anything less is ROBBERY.
Warren Buffett has exposed Bush, Paulson and all the rest of the neoconsters for what they are - GANGSTERS.