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June 17, 2013
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 Buffett Pumps Up Bank of AmericaPosted on Aug 25, 2011
Warren Buffett’s company Berkshire Hathaway negotiated a $5 billion investment with Bank of America on Thursday, a vote of confidence in the recently ailing institution. [Earlier Thursday, Truthdig erroneously reported the figure as $5 million.] Bank of America shares had lost about a third of their value in August alone before Buffett stepped in, but the shares rose 24 percent to $8.65 in early trading Thursday on word of the deal before falling back at midday. Always a shrewd businessman, Buffett negotiated exceedingly favorable terms from Bank of America, but it will have been worth it for the bank if the instant infusion of capital quells shareholder fears and attracts new investments, as Buffett’s investment in Goldman Sachs did at the height of the financial crisis. —BF
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By ardee, August 28, 2011 at 8:05 am Link to this comment
litlpeep, August 26 at 3:58 am Link to this comment
Why would we be surprised that Rooters made a cheer for a known, fabulously successful investor as if that were a cheer for the failing BofA?
I am unaware of who this Rooters person may be, as I am equally unaware if your post had an actual point. All I can do is repeat the following:
It would really be refreshing if folks researched prior to posting opinions. We cannot hope to arrive at correct analysis and proper courses of action if we base our politics on falsehoods.
Report thisBy litlpeep, August 26, 2011 at 3:58 am Link to this comment
Why would we be surprised that Rooters made a cheer for
a known, fabulously successful investor as if that were a cheer for the failing BofA?
Will Rooters also tell us when & how much Buffett shorts BofA?
Or when Goldman or Jamie Dimon or Soros does?
Of course not?
Stock Markets are for suckers.
Report thisBy ardee, August 26, 2011 at 2:31 am Link to this comment
caped amigo, August 25 at 3:25 pm Link to this comment
Buffett has to jump in and try to save these evil people. He has stock in B of A at
much higher prices.
Errr wrong! Buffet dumped B of A stock some time ago, leading to a perilous decline in their position. This deal is not to save Buffet but to help bolster the economy. Plus about 6% in profits .
It would really be refreshing if folks researched prior to posting opinions. We cannot hope to arrive at correct analysis and proper courses of action if we base our politics on falsehoods.
Report thisBy Queenie, August 25, 2011 at 8:10 pm Link to this comment
caped amigo:
May I say amen to that?
I’d really like to see these banksters and Wall St. hustlers piled up like cordwood 3 stories high to be used as fuel on Guy Fawkes night.
Report thisBy caped amigo, August 25, 2011 at 3:25 pm Link to this comment
Buffett has to jump in and try to save these evil people. He has stock in B of A at
Report thismuch higher prices. I don’t want to believe he supports them morally and is just
trying to save the fat of his little investors.
Having said that, I want to make it clear that I hope they go under big time.
By cpb, August 25, 2011 at 2:05 pm Link to this comment
Just the idea that we live within an economic system that
can create so much wealth in the hands of a single
individual that said moneybag could be capable of bailing
out a bank.
Oh wait, I’m sorry, silly me. He’s just THAT MUCH SMARTER
Report thisAND HARDER WORKING then the rest of us…