Hartzman Tax & Fiduciary: Did Warren Buffet know about Bank of America's Secret Liquidity Lifelines when Berkshire Hathaway Invested $5 Billion in BAC?

10/8/12

Did Warren Buffet know about Bank of America's Secret Liquidity Lifelines when Berkshire Hathaway Invested $5 Billion in BAC?

http://www.bloomberg.com/data-visualization/federal-reserve-emergency-lending/#/overview/?sort=nomPeakValue&group=none&view=time&position=0&comparelist=none&search=

Warren Buffett Invests $5 Billion in Bank of America

Warren Buffett’s Berkshire Hathaway Inc.
will invest $5 billion in Bank of America (NYSE:BAC)
to keep the company afloat after subprime mortgage-related losses
left the lender low on capital.

Bank of America announced the investment Thursday,
saying it would sell Buffett cumulative perpetual preferred stock,
which pays an annual dividend of 6%,
and give him a warrant to buy 700 million shares at roughly $7.14 each.

Emily Knapp, August 25 2011

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