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!
America's Watchtower 
Obama is Warren Buffet’s best investment to date – too bad it’s a closed IPO….WM
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It sure seems that way to me also William.
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I’m thinking that Buffet should be the poster boy for crony capitalism.
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And yet the OWS crowd is still protesting Republican events, a sure sign that they either just don’t get it or they are a tool of the Obama regime.
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The left is supposed to hate crony capitalism as much as we do. So how can they support Obama. oh, I know. They think free market capitalism and crony capitalism are the same thing. My bad!
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Obama ran agains this type of crony capitalism and yet he doesn’t hold himself to the same standards.
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Okay, on this one you guys are being ridiculous. It’s easy to take two unrelated events and dream up some connection, and then claim that because of the connection, the relationship is causal. Right now, because the administration is Democratic, we’re seeing this kind of foolishness from the right wing. In four years, or maybe twelve, the nation may elect a Republican president; when (not if) that happens, count on the left wing to start doing the same thing (remember those who claimed that President Bush’s main objective in going to war with Iraq was to benefit American defense contractors?)
Buffet is going to profit no matter what the government does. BoA, as a large bank, also has plenty of pension funds as its stockholders, and they should profit as well – thus benefitting millions or ordinary Americans. The reason Buffet does well is that he’s a capitalist – an occupation you guys claim to admire.
From reading this, all I can conclude is that there must not be much hard news today . . .
Take good care, and may God bless us all!
TGY
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I admit I am using the do unto others as they have done onto you tactic here. We put up with this type of rhetoric from the left for eight years and I am enjoying turning the tables on them. Is it childish and unproductive? Probably, but the left sowed the seeds of this type of political dissent and now they have to reap what they have sown. Turnabout is fair play.
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What upsets me, and I think others as well, is that they use all kinds of special financial “instruments” such as warrants in this case, to feather their nest. Most of these investments are beyond the scope of what the average investor can understand or able to particpate.Thus, the market is nothing more than a casino, with much of our pensions at stake. Short selling, puts and calls, and so on, has nothing to do with investing IMO.
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Buffet invested $5 billion in a bank that has more troubles than any of them. BAC is Countrywide with a different name. Knowing that Washington acts with impunity on insider information, could it be that Buffet knew what was coming down the pike for the bank? It reminds me of George Soros loading up on Petrobras stock right before Obama handed them a loan-so they could drill offshore. The stock soared. Dumb luck? Being ridiculous? There was no measure of technical analysis that showed Bank of America was a good investment. In fact, the indicators showed just the opposite. The Soros deal didn’t make sense either-at least publicly. Yeah, it could be foolishness, it could be a couple of wily investors striking gold once again. It could be…
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i’m confused- how does he make money if ” this deal also ends a separate investigation into Bank of America because the bank will pay a $1 billion settlement.”? It sounds like the bank has to pay money. If he makes money because the end of the situation, well what is the alternative- Never settle?
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