◼ If you're looking for proof that Too Big to Fail is still alive, and that Washington won't leave large financial institutions to the mercies of capitalism, consider billionaire Obama fundraiser Warren Buffett's $5 billion bet on struggling Bank of America. - Timothy P. Carney/Washington Examiner
Buffett, who recently won plaudits for advocating higher taxes, has spent four years betting on bailouts and big government -- and tilting the playing field in that direction by putting his money and prestige at the service of Barack Obama....
By putting $5 billion in B of A, Buffett seems to be following his mantra: "Be fearful when others are greedy, and be greedy when others are fearful." But does the Oracle of Omaha, as he did in 2008, find his courage in the promise of a bailout? And does he have good reason to expect one?
Last week, when Buffett spoke with Obama and decided to invest in Bank of America, we learned that he is hosting another Obama fundraiser. This all sounds familiar.
It's beginning to look a lot like 2008, which is bad news economically -- unless you know how to profit off bailouts.
◼ Warren Buffett, hypocrite - NY Post via Drudge
This one’s truly, uh ... rich: Billionaire Warren Buffett says folks like him should have to pay more taxes -- but it turns out his firm, Berkshire Hathaway, hasn’t paid what it’s already owed for years.