Friday, August 26, 2011

Ground Hog Day: Goldman Sachs & Bank Of America

Warren Buffett has invested $5bn in Bank of America Photo: AP

WSJ: 24 September, 2008

Goldman Sachs Group Inc. said it will get a $5 billion investment from billionaire Warren Buffett's company, marking one of the biggest expressions of confidence in the financial system since the credit crisis intensified early this month.

WSJ: 26 August, 2011

Bank of America Corp. said it will get a $5 billion infusion from Warren Buffett, giving the nation's biggest bank a desperately needed jolt of confidence at a time when investors are questioning its health.

The deal allies the bank with a billionaire investor known as an astute judge of value, who emerged during the financial crisis as an outspoken advocate of investing in America's future.
And with a TAX break!!!

And in one day BoA shares went up 23%!!!

No comments: