Results tagged “warrenbuffett”

Buffett also thinks that the GOP should back President Obama's efforts to help the economy and tried to put it in an war-framework, "They really do have an obligation to support things that are clearly designed to fight the war in a big way...I think that the Republicans have an obligation to recognize this as an economic war and realize you need one leader." However, Buffett also acknowledged, “You can’t expect people to unite behind you if you’re trying to jam a bunch of things down their throat." Last year, Buffett likened the economic crisis to Pearl Harbor—and that was only in September!

Billionaire investor Warren Buffett announced he will buy $3 billion in G.E. preferred stock, "G.E. is the symbol of American business to the world... They have strong global brands and businesses with which I am quite familiar. I am confident that GE will continue to be successful in the years to come.” G.E.'s stocks dropped this morning. Eight days ago, he invested $5 billion in Goldman Sachs. In the meantime, the Senate will vote on bailout legislation tonight and stocks are basically unchanged from yesterday.

Yesterday was a mixed day for the financial sector. Congress still had questions about the government's proposed $700 billion bailout plan for financial firms, sending the market down. But the after-market close announcement that Warren Buffett would invest $5 billion in Goldman Sachs has sent stock futures higher. But now there's word that the FBI is searching for possible fraud at Fannie Mae, Freddie Mac, Lehman Brothers and AIG.

Well, if it's good enough for Warren Buffett... The Oracle from Omaha's company announced it will invest $5 billion into Goldman Sachs, the investment bank-turned-bank holding company. The Wall Street Journal reports, "In addition to the $5 billion from Berkshire Hathaway, which comes in the form of perpetual preferred shares, Goldman will raise at least $2.5 billion in common equity in a public offering." Goldman chairman Lloyd Blankfein said, "We are pleased that... Warren Buffett, arguably the world's most admired and successful investor, has decided to make such a significant investment in Goldman Sachs," while Buffett called the firm "exceptional," "It has an unrivaled global franchise, a proven and deep management team and the intellectual and financial capital to continue its track record of outperformance.” Will this be the boost of confidence investors need?