Are Obama and Buffet cooking something up?

[pscot]

Rick Ackerman speculates at Zerohedge

http://www.zerohedge.com/contributed/prepare-be-forgiven-ye-mortgage-sinners

There’s also the $6.6 trillion loss of home equity that has occurred since the onset of the housing bust five years ago. Will it ever return? We can’t imagine how, although it’s possible that Buffett and our President think they see a way. The two have been pretty tight lately, raising suspicions that they had hatched a rescue plan for housing before the Sage of Omaha sank a pile of dough into B of A preferred stock, a fat six-percent dividend, and warrants exercisable for $7.14 a share. (The stock ended the week at 7.75 after trading as high as $8.80).



Buffett must have gotten something from Obama. Why else would he have announced a $40,000-a-plate fund-raiser for the President before the ink had dried on the B of A deal? Pretty unseemly, really. As ‘C.C.’ noted in the Rick’s Picks forum, the “Robin Hood of the downtrodden” has cozied up to the second wealthiest man in America. So what might they have talked about? The “housing problem” for sure. It supposedly will be one of the President’s key talking points in the jobs speech he’s slated to give...

[bbinacan]

1. Buffett is about to become

the richest man in the world.

[DCBob]

2. It does seem Mr Buffet is using his wealth and influence..

to help this country from falling back into a recession. He should be commended for it.

[MADem]

3. I too think Buffet is on the side of the angels. He's not keeping his money in the family

when he croaks; indeed he is giving a lot away while he is still alive.

[DCBob]

4. I agree. Even though he remains tremendously wealthy he is giving enormous amounts away.

Most billionaires dont do that.

[SKKY]

5. I understand the cynicism about this...

...but I think Buffett is on the side of good. I hope Obama is listening to him anyway.