Power of Story Send a Tweet        

Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (1 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   1 comment
OpEdNews Op Eds

How Buffett Was Bailed Out -- Kinda, Sorta, But Yeah, Really

By       Message Harkavy     Permalink

Related Topic(s): ; ; , Add Tags  Add to My Group(s)

View Ratings | Rate It

opednews.com Headlined to H4 8/6/09

Author 37160
- Advertisement -
source article


Warren Buffett not only was in essence bailed out by the bailout but he also traded the bailout to seek "morally hazardous" profits. That's a somewhat disillusioned take from Rolfe Winkler of Reuters. (He also gets credit for the above graphic.)

Buffett, one of the most human-seeming of our oligarchs, got credit for bailing out Goldman Sachs with $5 billion last fall. The Omaha guru has wailed about government guarantees. But looky here, says Winkler in "Buffett's Betrayal": "Were it not for government bailouts, for which Buffett lobbied hard, many of his company's stock holdings would have been wiped out." He adds:

- Advertisement -
Berkshire Hathaway, in which Buffett owns 27 percent, according to a recent proxy filing, has more than $26 billion invested in eight financial companies that have received bailout money.

Winkler's piece is nice, and Joe Wiesenthal masticates it here, and Robert Wenzel here. See Buffett's February 2009 letter here.

- Advertisement -


- Advertisement -

View Ratings | Rate It


Ward Harkavy is currently Senior Editor at the Village Voice, for which he writes The Smart Asset.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Related Topic(s): ; ; , Add Tags
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

CIT Bankruptcy: Taxpayers Stiffed on Company's Bailout Billions While Execs Reap Bonuses

Fort Hood's Killer Shrink: Was He One of the Army Docs Pressured to Misdiagnose PTSD in Soldiers?

Pocket Rockets: The 10 Highest-Paid CEOs of 2008

Bank Robs You: Chase's Hefty Profits Put Lie to Claim That Consumers Have to Spend More to End the Recession

Israeli-American fraudsters swindled tens of millions from IRS, say Israeli cops

Was Obama 'Conned' by Big Pharma or Is He Just Running a 'Protection Racket'?