Warren Buffet just bought a 5 billion dollar chunk of Goldman Sachs, does this mean we have seen the bottom of this market?
Goldman Sachs CEO Lloyd Blankfein
globeandmail.com - Buffet Buys Into Goldman
"Goldman Sachs Group Inc. on Tuesday said it will receive a $5-billion (U.S.) investment from Warren Buffett's Berkshire Hathaway Inc., a vote of confidence for the Wall Street bank from perhaps the world's best-known investor" Reuters
Click on the read more icon for the full Globe & Mail Story.
I'm starting to think again about this government bailout of Wall Street. If you can't find someone to buy some equity or lend you some money without government involvement, and you are going broke without it, then you should go broke.
No matter who you are.
Privatized profits and losses.
Banks, insurance companies, private equity, and sovereign wealth funds are lining up to buy the pieces left over from anyone who can't make it.
Let them go under.
It's the American way, and in this case it would even be the right way.
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