-- 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. The TARP at one point had nearly $100 billion invested in these companies and, according to new data released by Thomson Reuters, FDIC backs more than $130 billion of their debt.
To put that in perspective, 75 percent of the debt these companies have issued since late November has come with a federal guarantee.
-- [Buffett] even traded the bailout, seeking morally hazardous profits in preferred stock and warrants of Goldman and GE because he had "confidence in Congress to do the right thing" - to rescue shareholders in too-big-to-fail financials from the losses that were rightfully theirs to absorb.Excellent journalism that you won't find in the papers.
-- To me this feels like a betrayal. There's a reason he's Warren Buffett and not, say, Carl Icahn. ...
[T]here's nothing fair about Buffett getting a bailout, about exploiting the taxpaying public for his own gain. The naÃ¯ve 14-year-olds among us thought he was better than this.