That is my understanding.
Buffet is a crook as well as a hypocrite. Most of his vaunted business acumen is in sucking up to his buddies in big government. Crony capitalism at work.
Buffet owns a series of mortgage companies that prey on low income borrowers, especially with mobile homes, in a particularly egregious fashion.
Could you imagine if the Koch brothers owned a 16% stake in Wells Fargo? It would be the headline in every paper but see-ens how it’s Saint Warren barely a peep.