Buffett invests $5 billion in Bank of America -"vote of confidence in the USA and BoA"

[banned from Kos]

Buffett is already up $1 billion in 10 minutes - BAC is up 23% and will earn 6% interest on his preferred shares.

Shorts "story" ends today.

[FSogol]

1. Wow, Jimmy Buffet has more money than I thought. n/t

[dkf]

2. Warren Buffet is trying to fix the US.

I'm not sure if it is good or bad that he needed to do this.

[PoliticAverse]

3. Warren Buffett invests in taxpayer bailout. Vote of confidence that BofA is too big to be let fail.

[Brickbat]

4. Heh.

[AbortiononDemand]

5. True and my brother has some calls on Bac for $10 Jan

Lucky! Good for him though. Gotta say I love your name as I too was banned from KOS-after one post... LOL

[banned from Kos]

6. thanks - It was fascinating to watch the vulture shorts attack BAC with

wild made-up shit like they would be taken over by Morgan after the FDIC seized them or they would need a $100 bailout.

Well - that bullshit is over with now. Buffett reads a balance sheet better than any man who ever lived.

[dkf]

7. It's funny that this gives you confidence in BACs balance sheet.

It's making me wonder if the situation wasn't worse than we know. He didn't buy regular stock, he got a special issue preferred.

[dkf]

9. Jim Cramer called for an angel investor like Buffett to do this for BAC yesterday.

Cramer was sounding all panicky to me.

[banned from Kos]

10. the common doesn't pay 6% - Buffett clipped Goldman for 10%

and when the best in the world puts 5 billion of his company's chips in - yeah, the b/s has a clean bill of health.

I love it. This money will eventually go for vaccines and education for poor people worldwide.

[Ganja Ninja]

8. He's confident that the corporate owned government will ride to the rescue.

[sarcasmo]

12. Maybe he is confident Perry is going to win.

[TreasonousBastard]

11. Yeah-- unlike people with no money who know everything, the guy who knows...

money better tha most knows what a rathole we'd be in if BoA goes under for no good reason other than good short interest and rumor.

[ladjf]

13. Sounds like a shrewed "crap shoot". He won. nt