Wednesday, September 24, 2008

Buffet Bailout

While Congress mulls over the Treasury Department's $700 billion plan to slow the financial market's bleeding, investors with deep pockets are swooping in to stake their claim on under-valued institutions. It's time like these that I wish I had a spare million or two. Strike that....million is so passe.....billion is the new million.

Warren Buffet, my new adoptive father, is single-handedly attempting to restore confidence and order to what can be most eloquently called....a cluster f*&k! Last week, Buffet's Mid-American Energy chalked up a deal to purchase Constellation Energy for $4.7 billion. This week, Goldman Sachs will be the recipient of an offer they can't refuse -- a $5 billion infusion. Buffet stands to gain rougly 10% ownership of the WallStreet icon.

One man + a butt load of money + desperate times = Cha Ching!

The slew of events over the past several weeks have been amazing. It's so difficult to predict how everything is going to pan out. And hey people....there's an election in our midst as well. Too too much going on. It's overwhelming.

Warren Buffet's investments may be the historical sound bite from today. In the end...we may all be counting our lucky stars for this man.

2 comments:

SBWaire said...

Overwhelming indeed. The last time I was so glued to the news was 9/11. It will be interesting to see how this all pans out. I think a lot of people are still removed from this. Hasn't hit close to home yet.

CaraBee said...

Or he will wind up owning everything. Which is equally scary. The United States of Buffet?