Results 1 to 10 of 10
  1. #1 Buffett bets $5 billion on Bank of America 
    eeeevil Sith Admin SarasotaRepub's Avatar
    Join Date
    Mar 2002
    Location
    Sunny,FL
    Posts
    43,277
    Dammit!!! :mad:

    I knew we should have gone with eeeeeeeeeeeeevil BOA!!!!!

    :D
    May the FORCE be with you!
    Reply With Quote  
     

  2. #2  
    Banned
    Join Date
    May 2010
    Posts
    812
    Gotta be a favor for the Fed. Shit's probably a lot worse than they are letting on.
    Reply With Quote  
     

  3. #3  
    Senior Member
    Join Date
    Mar 2010
    Posts
    3,269
    I have to confess to having the same thought, except that I kind of think Buffett would not participate in that game. But still...it did occur to me.

    BAC was valued at 16$ by some analysts before Buffett made made his move - $8.00 now - and if you read the details, it was a real sweetheart deal. One not available to you and me, but then we ain't putting up 5 billion dollars, either.
    Reply With Quote  
     

  4. #4  
    Senior Member Tecate's Avatar
    Join Date
    Apr 2010
    Location
    Austin, Texas
    Posts
    566
    Quote Originally Posted by KhrushchevsShoe View Post
    Gotta be a favor for the Fed. Shit's probably a lot worse than they are letting on.
    Technically, they are are an insolvent zombie bank, alive only because of the generosity of US taxpayers.

    Tank of America and Shitty Bank are both in a great deal of trouble.
    Reply With Quote  
     

  5. #5  
    Banned
    Join Date
    May 2008
    Posts
    11,970
    Buffett should fork over 90% of the billion he made on this deal to the IRS. Just because it is a paper gain, let him practice what he preaches. I almost forgot, he uses the lower capital gains rate rather than pay the higher tax rate on other income.
    Reply With Quote  
     

  6. #6  
    Senior Member Tecate's Avatar
    Join Date
    Apr 2010
    Location
    Austin, Texas
    Posts
    566
    Just three days ago, JP Morgan Chase was preparing to take over Bank of America...

    Marketwatch - JP Morgan May Take Over Bank Of America Within The Week
    Reply With Quote  
     

  7. #7  
    And BOA got to take over Merrill Lynch under tarp...

    http://www.foxbusiness.com/story/mar...ew-tarp-money/

    Now Buffett buys in. Angel investor? Warren? Well he may be getting old but I don't think he is senile.:eek:
    Reply With Quote  
     

  8. #8  
    Senior Member Tecate's Avatar
    Join Date
    Apr 2010
    Location
    Austin, Texas
    Posts
    566
    Quote Originally Posted by zeitgeist View Post
    And BOA got to take over Merrill Lynch under tarp...

    http://www.foxbusiness.com/story/mar...ew-tarp-money/

    Now Buffett buys in. Angel investor? Warren? Well he may be getting old but I don't think he is senile.:eek:
    They also took over Countrywide...
    Reply With Quote  
     

  9. #9  
    Banned
    Join Date
    May 2008
    Posts
    11,970
    Quote Originally Posted by zeitgeist View Post
    And BOA got to take over Merrill Lynch under tarp...

    http://www.foxbusiness.com/story/mar...ew-tarp-money/

    Now Buffett buys in. Angel investor? Warren? Well he may be getting old but I don't think he is senile.:eek:
    Something does not smell right here.
    Reply With Quote  
     

  10. #10  
    Sin City Moderator RobJohnson's Avatar
    Join Date
    Apr 2006
    Location
    Nevada
    Posts
    17,256
    Quote Originally Posted by SarasotaRepub View Post
    Dammit!!! :mad:

    I knew we should have gone with eeeeeeeeeeeeevil BOA!!!!!

    :D
    Or John Deere. When I was visiting Moline, IL Bill Gates bought a few shares....making his group the largest shareholder. The stock jumped a few days after...
    Reply With Quote  
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •