"Buffett invests in Goldman Sachs" By Ben White, New York Times News Service | September 24, 2008
Warren Buffett, America's most famous investor and one of the world's richest men, said yesterday he would invest $5 billion in Goldman Sachs in a move that could bolster confidence in the financial markets.
Until now, Buffett, who has navigated the stock market with legendary prowess, has largely refrained from investing in the stricken financial industry, saying repeatedly that things could get worse. Thousands of people on and off Wall Street follow Buffett's moves, so his decision to invest in Goldman immediately heartened investors.
Buffett, in the statement, called Goldman Sachs an exceptional institution:
"It has an unrivaled global franchise."
Berkshire Hathaway will receive perpetual preferred shares in Goldman, which will pay a 10 percent annual dividend, or $500 million a year. Those dividends take precedence over other payments to common shareholders. Goldman has the right to buy back the shares at any time for a premium of 10 percent.
Also yesterday, the FBI said it is investigating four major US financial institutions whose collapse helped trigger a $700 billion bailout plan by the Bush administration.
Now, WHY DOESN'T THAT get a SEPARATE article in my CORPORATE SHIT SHEET? Nope, the agenda-pushing corporate media would rather HIDE the LYING LOOTERS of Wall Street!!!!
Two law enforcement officials yesterday said the FBI is looking at potential fraud by mortgage finance giants Fannie Mae and Freddie Mac and insurer American International Group Inc., A senior law enforcement official said Lehman Brothers Holdings Inc. also is under investigation.
You know, if it were a cop or a fireman, the Globe would be screaming about the corruption; see why I can't stand the shit AmeriKan MSM anymore, readers?
The inquiries will focus on the institutions and the individuals that ran them, the senior law enforcement official said.
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