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Keyword: capitolcronyism

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  • Capitol Cronyism: Obama-Backer Buffett Helped Shape Bailout Rules, Made Massive Profits from Them

    11/17/2011 3:56:38 PM PST · by opentalk · 14 replies
    Big Government ^ | November 15, 2011 | Wynton Hall
    In the wake of the $700 billion TARP bailout, Warren Buffett apparently shaped a plan to clean up toxic assets that Treasury Secretary Tim Geithner later adopted–resulting in massive profits for Buffett.That’s the latest bombshell revelation from investigative journalist and Breitbart editor Peter Schweizer’s sensational new book, Throw Them All Out. According to Schweizer, after the bailout bill’s passage, Warren Buffett sat down and wrote then-Treasury Secretary Henry Paulson a four-page private letter laying out a plan to clean up the toxic assets plaguing numerous financial institutions. Buffett proposed something he called a “public-private partnership fund.” For every $10 billion...