Buffett’s ‘Save’ of B of A Will Not Come Cheap for the Bank

Warren Buffett’s $5 billion public vote of confidence in Bank of America, happily for him, does not require actual confidence. The terms of the legendary investor’s deal, which grants Buffett’s Berkshire Hathaway Inc. $5 billion in perpetual preferred stock and warrants to buy B of A stock at just over $7 a share, include no lockup period.

Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_419/buffett-bank-of-america-1026302-1.html

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