NVDL: Who writes this stuff? These guys really crack me up. Wall Street has been shivering and quivering because the $700 billion bailout has not been met with much confidence.
Then Buffet make's his $5 billion offer and everything is okay? Puhlease. $5 billion in a $700 billion puddle when we're talking about stock wipeouts in the trillions... $5 billion works out to 0.007% and it's been referred to as 'a shot in the arm'.
It may be a savvy move by Buffet, and maybe Goldman is the bank to play, but the write offs are only just starting - and the troubles on Wall Street have just begun.
Then Buffet make's his $5 billion offer and everything is okay? Puhlease. $5 billion in a $700 billion puddle when we're talking about stock wipeouts in the trillions... $5 billion works out to 0.007% and it's been referred to as 'a shot in the arm'.
It may be a savvy move by Buffet, and maybe Goldman is the bank to play, but the write offs are only just starting - and the troubles on Wall Street have just begun.
 clipped from biz.yahoo.com
It may be just the shot in the arm that shares needed. Wall Street appeared headed for a higher opening Wednesday, though credit markets remained uncertain about the government's $700 billion bailout plan for banks. Warren Buffett, one of the world's best known and wealthiest investors, is betting $5 billion that the U.S. financial system is not about to collapse.
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