Amid the worst financial crisis since the Great Depression, few issues have sparked more outrage than executives on Wall Street taking home big bucks, even as their companies took risks that sent the country plunging into recession. Just this week, a report from New York Attorney General Andrew Cuomo revealed that the first nine banks to receive government bailout funds dished out nearly $33 billion in bonuses last year, with 4,800 employees taking home bonuses over $1 million.
The richest man in the world doesn't need $95 billion dollars.
But apparently, the companies he invests in did. According to a new report, companies in which Warren Buffett owns sizable minority stakes received a whopping $95 billion in Troubled Asset Relief funding, as Buffett was shilling for investments in common stocks.
"Up until now they have been able to use fear as their best tactic, and whether it's on foreign policy issues or domestic policy issues, that's how that first TARP fund went through… If things get worse, they'll say this is more reason than ever for the government to take over and of course we still have the threat of martial law coming in because they havn't forgotten about that and I don't think they'd hesitate to use it.
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