Warren Buffett to profit big from Obama’s foreclosure abuse settlement

February 10, 2012 | Filed under: General Politics | Posted by:

barack-obama-arroganceWell maybe it’s not a big profit for Obama’s pal Warren Buffett. I mean, what’s $154 million amongst left wing billionaires like Buffett right? When Buffett purchased his 700 million shares of Bank of America stock a few weeks ago, he gained warrants to allow him to purchase the stock at a price of $7.14. The stock closed at $8.13 per share today after news of the foreclosure settlement was released to the media. What an amazing coincidence isn’t it?

“If Buffett had exercised his warrants Friday morning, he would have made $847 million. $154 million of that profit would have been related to the foreclosure deal,” Howley reports.

And, as mentioned in the above, this isn’t the first time a decision by the White House has paid off for the Berkshire Hathaway CEO.

Recall that in November 2011, it was reported that President Obama’s two-year postponement of the deadline to determine the future of the proposed Keystone XL pipeline would “force North Dakota oil producers to rely more heavily on the Burlington Northern Santa Fe Railroad.”