Thursday, August 25, 2011
Warren Buffett has confidence in Obama
Confidence that he will be able to kill the various state investigations into the Bankster mortgage frauds including the one being conducted by the Pride of New York Eric Schneiderman.
Warren Buffett's Berkshire Hathaway plans to buy $5 billion worth of preferred shares of Bank of America, according to CNBC. The troubled bank's stock soared 25 percent on the news.Warren Buffett does his homework and has many friends who tell him what is really happening so this should be a good sign for BAC. On the other hand this bodes ill for the New York AG. They won't bother with whores this time, they will hire someone to shoot him.
Berkshire Hathaway will buy 50,000 shares at $100,000 per share, according to Business Insider. Shares of BofA, the value of which has been halved since the start of the year, are currently trading on the market at only $8.31 as of 9:42AM...
Bank of America Corporation announced today that it reached an agreement to sell 50,000 shares of Cumulative Perpetual Preferred Stock with a liquidation value of $100,000 per share to Berkshire Hathaway, Inc. in a private offering.The preferred stock has a dividend of 6 percent per annum, payable in equal quarterly installments, and is redeemable by the company at any time at a 5 percent premium.
In conjunction with this agreement, Berkshire Hathaway will also receive warrants to purchase 700,000,000 shares of Bank of America common stock at an exercise price of $7.142857 per share. The warrants may be exercised in whole or in part at any time, and from time to time, during the 10-year period following the closing date of the transaction.
Subscribe to Posts [Atom]
Post a Comment