Buffett is an extremely smart investor, but he is no savior. He is certainly gaming the system with his investment in Goldman. Not only is he making a killing on his preferreds, he is also basing his decision on the fact that GS is one of the main beneficiaries of the bailout. GS and Morgan Stanley more specifically are the big winners in Paulson's plan. Atleast Buffett is honest when he is trying to screw you.
On his investment in Goldman...
"If I didn't think the government was going to act I wouldn't have done anything."
Is that showing faith in the financial system or is that pointing another gun to the head of congress? Buffett knows congress is between a rock and a hard place and his ball-busting deal with GS will make him a killing if the government proceeds with a bailout. Mostly he will profit at the taxpayer's expense. Will the sheeple actually catch on to this? That's to be seen.
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