On the news from Yahoo via Reuters:
Warren Buffett's Berkshire Hathaway Inc (BRKa.N) (BRKb.N) will invest $5 billion in Goldman Sachs Group Inc (GS.N), in a major boost for the Wall Street bank from perhaps the world's best-known investor.
"It's a vote of confidence which is gold plated," said Michael Holland, a money manager at Holland & Co in New York. "You don't get better than this."
Shares of Goldman rose 6.5 percent following the announcement, while Standard & Poor's 500 futures gained 16 points.
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On the other side of the fence:
Refusing to be pushed, Republicans and Democrats alike rebuffed dire warnings Tuesday from the government's top economic officials of recession, layoffs and foreclosed homes if Congress doesn't quickly approve the administration's emergency $700 billion financial bailout plan.
IMO, I am not sure if this is good or bad. Out right bailout is not good, the public has to got something in return. Besides, many companies out there can and will pick up the pieces of these companies. It is right that they be obliterated because of their mistakes.
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From Bloomberg:
Nomura Holdings Inc., Japan's biggest securities firm, rose in Tokyo trading after agreeing to buy Lehman Brothers Holdings Inc.'s Asian-Pacific unit and investment banking and equities businesses in Europe.
Nomura gained 5.3 percent to 1,506 yen at 9:11 a.m. local time as it seized on Wall Street's crisis to speed up a push to become a global investment bank. Markets were closed in Japan yesterday for a public holiday.
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Surely dozens companies out there are interested with the assets AIG have.
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So?
The sky is not falling.
IMO, I am not sure if this is good or bad. Out right bailout is not good, the public has to got something in return. Besides, many companies out there can and will pick up the pieces of these companies. It is right that they be obliterated because of their mistakes.
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From Bloomberg:
Nomura Holdings Inc., Japan's biggest securities firm, rose in Tokyo trading after agreeing to buy Lehman Brothers Holdings Inc.'s Asian-Pacific unit and investment banking and equities businesses in Europe.
Nomura gained 5.3 percent to 1,506 yen at 9:11 a.m. local time as it seized on Wall Street's crisis to speed up a push to become a global investment bank. Markets were closed in Japan yesterday for a public holiday.
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Surely dozens companies out there are interested with the assets AIG have.
----------
So?
The sky is not falling.