Sunday, May 3, 2009

Warren Buffett and Charlie Munger Full-Fledged Oligarchs

Get stuck holding billions of dollars worth of bank stocks and suddenly you begin to think propping up the banks with taxpayer money and musciling bank takeovers is a great idea.

Huffington Post's Alan Schram reports that Buffett and Munger "believe Treasury Secretary Paulson and Fed Chairman Bernanke acted honorably and intelligently when they forced BofA to close the Merrill Lynch acquisition."

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