$5 Billion Investment in Bank of America - A Risk Taken by Buffet
>> Saturday, August 27, 2011
Amidst the threat about the long-term health of Bank America, Warren E. Buffet has recently invested $5 billion as his courageous display of faith in America’s biggest, and most beleaguered financial institution.
Bank of America already had to set aside around $20 billion to fix its mortgage misdeeds at the height of the housing bubble.
Bank of America’s problems are emblematic of the economic woes facing the country in general and the housing market in particular. Its fortunes have been waning as the outlook for growth has darkened and the financial markets have gyrated.
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Bank of America already had to set aside around $20 billion to fix its mortgage misdeeds at the height of the housing bubble.
Bank of America’s problems are emblematic of the economic woes facing the country in general and the housing market in particular. Its fortunes have been waning as the outlook for growth has darkened and the financial markets have gyrated.
