Monday, September 05, 2011
Warren Buffett - STEALING From Taxpayers!
Okay, first of all, even though BAC stock is on sale for less than $7 a share....the guy, this RESCUER, would only buy 6%-dividend-paying PREFERRED STOCK.
That means the common shares, what the lumpen masses own, can and most likely will be diluted all the way down to zero and he'll still be in line to be paid his 6% dividend.
And who'll be paying it?
With all the backdoor bailouts we're already funding Bank of America to the tune of billions per year. Buffett's first dividend is essentially already coming from us.
The idea that this guy is a genius is nonsense. Recall he sold ALL OF HIS SILVER around $5 or $6 - at the bottom! (Silver is $43 today.)
And from the article I cropped above....it looks like this Moronic 'old coot' is still averaging up on his shares of Wells Fargo.
Mark my words that stock will be his undoing - his ignominious swan song.
The guy is nothing short of a complete jerk. Not only is he *managing down* his own taxes and *talking them up* for the rest of us....he has to basically STEAL from the kitty too!