Did Warren Buffett make $154 million on Barack Obama’s foreclosure abuse settlement?
Earlier this week Barack Obama and Eric Holder announced that the Obama regime and the “Justice” Department had reached a $26 billion deal with five banks in a foreclosure abuse settlement. According to the article linked to above, this deal also ends a separate investigation into Bank of America because the bank will pay a $1 billion settlement.
Barack Obama called this a “landmark event” when the announcement was made, and do you know who else must be feeling this is a landmark event at this point in time? None other than billionaire and Obama supporter Warren Buffett because it turns out that Warren Buffett just happens to own stock in Bank of America and when the settlement was reached Warren Buffett stood to make $154 million in the deal if he exercised his stock options Friday morning. Being the smart business man he is I would find it doubtful that he did not.
$154 million is a mere pittance to a man of Warren Buffett’s wealth so perhaps he will donate this money to a worthy cause like say, I don’t know, Barack Obama’s reelection campaign?
This is the second time in recent history that Warren Buffett stands to profit from decisions made by the Obama regime; when Barack Obama announced he was killing the Keystone pipeline last month Warren Buffett just happened to be a beneficiary in that decision as well. What an amazing couple of coincidences!