BDBoop
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Buffett Invests $5 Billion in Bank of America - NYTimes.com
If anybody needs to DIAF, it's BoA. Why the HELL is he rescuing them.
If anybody needs to DIAF, it's BoA. Why the HELL is he rescuing them.
Warren Buffett comes to the rescue, again.
On Thursday, Berkshire Hathaway, run by Mr. Buffett, announced plans to invest $5 billion in Bank of America, a vote of confidence for the beleaguered financial firm.
The conglomerate has agreed to buy 50,000 preferred shares that will pay a 6 percent annual dividend. Bank of America has the option to buy back the shares at any time for a 5 percent premium. According to CNBC, Mr. Buffett approached Bank of America early Wednesday about a potential deal.