All stock shorters of Bank of America take heed. For, according to the WSJ blog, here:
Warren Buffett is piling into BAC stock. LOL, and it was just two days ago that the Bank of America management (and one day ago that DICK Bove) was screaming:
“We don’t need no stinkin’ capital!”
Well, evidently they did. And, just like “Uncle Warren” did with Goldman Sachs when they were on the ropes a few years ago, Buffett is buying preferred stock, with a nice juicy dividend.
Needless to say, BAC stock jumped a MASSIVE:
…on the news.
(Spock Conclusion): I have long warned that the Thugs and Pigmen in Charge of the Monetary Ponzi are to be taken deadly seriously when it comes to the depth of depravity these guys exhibit and the length they will go to to CRUSH anyone who dares bet against them, or their “Infinite Fiat” system.
This latest move by Buffett only reinforces this fact.