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Buffett´s Berkshire set to get
nearly $2.15 billion of Goldman stock

Reuters.com, by Reuters

Original Article

Posted By:pineledger, 10/1/2013 8:28:24 AM

Warren Buffett´s Berkshire Hathaway Inc (BRKa.N) will receive Goldman Sachs Inc (GS.N) stock worth nearly $2.15 billion on Tuesday through warrants acquired as part of a deal originally signed during the depths of the 2008 financial crisis. Buffett received the warrants five years ago when his investment in Goldman was seen as a vote of confidence in the bank, which was reeling from turmoil in the credit market. Under that deal, Berkshire had the right to buy about 43.5 million Goldman shares - or a roughly 9 percent stake then - at an exercise price of $115 per share, for

Comments:
Soetoro Sweetheart Deal or plain old fashioned kickback?

      


Post Reply  

Reply 1 - Posted by: Doc Obiwan, 10/1/2013 8:44:08 AM     (No. 9544418)

Buffet´s politics may be execrable, but he does know how to pick´em. This deal was made 5 years ago. Check his methodology, especially from the ex-daughter-in-law who is now persona non grara.

I believe it was the original Baron Rothschild who said, "Buy when there´s bood in the streets." (Note: We´re going to be seeing lots of blood in the streets. )

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Reply 2 - Posted by: TrueBlueWfan, 10/1/2013 8:52:07 AM     (No. 9544431)

Under which administration do "the rich get richer"?

Why is he not pressured to "give back"?

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Reply 3 - Posted by: pineledger, 10/1/2013 9:08:53 AM     (No. 9544459)

With his kind of clout, Buffett no longer has to pick anything. This was a lead-pipe cinch, and he knew it when he did the deal.

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Reply 4 - Posted by: mickturn, 10/1/2013 9:33:09 AM     (No. 9544498)

Yep the indiders always make money while everyone else gets screwed!

Welcome to Obamaland!

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Reply 5 - Posted by: BaseballFan, 10/1/2013 9:40:25 AM     (No. 9544516)

#4, speaking of "insiders", I wonder how many of our esteemed Congressmen and Senators made out on this deal?

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Reply 6 - Posted by: BaseballFan, 10/1/2013 9:43:46 AM     (No. 9544520)

By the way, he bought in at $115 per share; as of closing yesterday, GS was at nearly $159, a nice bump of 38% since then.

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Reply 7 - Posted by: Felixcat, 10/1/2013 10:54:31 AM     (No. 9544638)

At some point, you´ve made enough money...

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Reply 8 - Posted by: reilly, 10/1/2013 11:10:22 AM     (No. 9544660)


The question will always be should we have let Goldman and all the other Too Big Banks fail back in 2008.

It would have been more painful, but where would we be now?


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Reply 9 - Posted by: Doctor P, 10/1/2013 12:05:13 PM     (No. 9544760)

One has to have a ready source of cash to be able to be a banker of last resort. He stepped up in the crises and made a deal at crises rates.

Yet both Berkshire and Goldman benefit from the latest twist. Berkshire does not actually have to put up real cash to convert the shares and avoids some taxes and Goldman does not dilute the equity as much.

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