theobannion

Is Buffett Backing Away from Stocks?

The government's main goal is making money for the plutocrats for whom they work.

SOB.

On Sep 09 10:55 AM Ricard wrote:

> Agree with most of the article and the conclusion.
>
> Regarding the GS discussion, the author stated it best - Buffett
> is a businessman. The government is not bailing out financials so
> that it can make a profit. Any profit earned by the government is
> tertiary to its main goal - stabilizing the financial system.

Is Buffett Backing Away from Stocks?

"Henry Paulson’s bank bailouts, done under “great stress” during the worst financial crisis since the Great Depression, failed to win for U.S. taxpayers what Warren Buffett received for his shareholders by investing in Goldman Sachs Group Inc.

"The Treasury secretary made 174 purchases of banks’ preferred shares that include warrants to buy stock at a later date. While he invested $10 billion in Goldman Sachs in October, twice as much as Buffett did the month before, Paulson gained certificates worth one-fourth as much as the billionaire, according to data compiled by Bloomberg. The Goldman Sachs terms were repeated in most of the other bank bailouts…"

Who in his right mind believes that Paulson was working for the taxpayer? Of COURSE Buffett would have gotten a better deal if he used his own money. So would Paulson!

SOB.