Less than two weeks after he said in a controversial New York Times op-ed piece that the government should “stop coddling the super-rich”, billionaire investor Warren Buffett made a surprise announcement today that his firm Berkshire Hathaway is throwing a whopping $5 billion in financial support behind the struggling Bank of America.
Bold move, Mr. Buffett. Bold move, indeed. I wonder if he was just waiting to see what would happen with that whole Wikileaks ordeal?
My guess? He realises that the government is not willing to let BoA collapse (too many bought and paid for politicians to let it happen), and since BoA’s stock has dropped 50%, now is a good time to invest before the government helps it recover