The big news today is that one of the most troubled big banks in the U.S.--the failing Bank of America--was suddenly placed in the catbird seat as Obama-bot and billionaire Warren Buffett pumped billions into the organization in a gargantuan stock purchase.
Immediately the value of Bank of America's stocks soared.
So, what's behind this rather unexpected turn of events?
Well, connect the dots. Buffett is holding a major fundraiser for Obama in New York on September 30. You can be as sure as death and taxes that a multi-billionaire like Buffett does not pump multi-billions into a failing enterprise unless there is some advantage. And the double-favor he provided Obama in essentially bailing out Bank of America and holding a major fundraiser for Obama's reelection indicates that he was given assurances of something in return.
And what would that be? THIS inquiring mind wants to know.
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