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Buffet knows how to get a go deal
Billionaire Warren Buffet just worked a deal with Goldman Sachs for 5 billion worth of preferred stock that p[ays a 10% dividend. Now the big question is, if Goldman is a part of this government payola plan of Paulson's, does that mean we're paying Buffets tax free dividend? Remember congress made dividends tax free a few years ago, or have you forgotten already. Another question, if Buffet can get that deal why can't Congress? It seem a very revealing event to me.
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Comments (1)
I didn't see where Goldman was part of the bailout. Now that they are a commercial bank they can borrow from the Fed to cover capital requirements and they have different rules for accounting for the value of their assets. Plus they just got $5 billion in cash from Buffett, which is what they need.
Then again we don't know what the deal is going to be or who will be applying for help.
September 23, 2008 10:02 PM | Reply | Permalink
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