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Buffett cashes in on bailout as TARP beneficiary
Warren Buffett, praised for opposing greed and backing the bailout, is revealed as a major beneficiary of the $700 billion TARP program through Berkshire Hathaway holdings in Goldman Sachs, US Bancorp, American Express, and Bank of America. Berkshire ranks fifth among investors in TARP firms, with 30 percent of its public portfolio tied to bailed out banks. Buffett, the world’s second-wealthiest, has spoken against the crisis and supported government action, arguing the economy would have suffered cataclysmically without intervention.
MENTIONED IN THIS ARTICLE
Sacramento
Calif
Warren Buffett
Buffett
Treasury
Sacramento Bee
Microsoft
Bill Gates
Berkshire Hathaway
Berkshire
Omaha
Neb
Goldman Sachs Group
US Bancorp
American Express
Bank of America
San
Berkshire’s
Richard Coppes
Jones Day
California Public Employees’ Retirement System
Goldman Sachs
Wall Street
Main Street
America
Goldman