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I'm no big fan of CIT Group and their shoddy loan portfolio. But Buffett's comments are helpful to understanding the inherent injustice of rewarding failed banks. Excellent commentary on the FDIC-backed debt that is so prevalent with the too-big-to-fail crowd. Hard not to make a bundle with 1% money.
Aug 4, 2009 at 3:45 PM
Reader Comments (2)
Read up on why he wanted these bailouts...follow the money...and you will find the thief!
http://blogs.reuters.com/rolfe-winkler/2009/08/04/buffetts-betrayal/