Aug 252011
Buffett picks a stake in Bank of America
The BAC management takes a voluntary call from Mr Buffett and agrees to pay 6% on 5 billion for 10years or 300 million a year because they have LOADS and LOADS of capital to spare. YES, I BELIEVE IT, that must be the reason.
4 Responses to “A bailout by any other name is a bailout”
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My dad used to be a public sector banker. He told me early that when I find someone ready to be paying extraordinary high interest, be careful, high chance for him to go bust !
Jai Bala,
This kind of sense of humor in a volatile market will do.
– Kishan
You always had a good sense of humour. The British influence has honed it…sarcasm at it’s best…:)
Agile,
I’m looking to implement like button in the comment section 🙂