AGAIN! Obama’s Billionaire Pal Warren Buffet Earns $154 million off Obama Decision

This is the second time recently that Obama’s billionaire buddy who happens to be the 3rd richest man in the world has made millions off a decision by the Obama admin. First it was the Keystone Pipeline decision, now its the Bank of America settlement.

(Free Beacon) Warren Buffett’s stake in Bank of America Corp. increased in value by $154 million after President Obama and the U.S. Justice Department announced a $25 billion foreclosure abuse settlement with the five largest U.S. banks Thursday, records show.

Buffett invested $5 billion in Bank of America (BofA) on Aug. 25, 2011. As part of his investment deal, Buffett gained warrants that allow him to buy 700 million shares of Bank of America stock at a strike price of $7.14 a share. However, on Dec. 19, 2011, it was reported that Buffett was $1.5 billion underwater on his stock warrants, with shares of BofA stock trading at $4.94. But on Thursday, after President Obamapersonally announced the details of the settlement, BofA stock closed at $8.13 a share. The stock opened Friday morning at $8.31 and reached as high as $8.35 a share.

Read the full article on Free Beacon…

Obama’s Billionaire Buddy Warren Buffet made Bank off the Keystone Pipeline Failure

Is any one starting to see any pattern that Obama’s rich buddies seem to constantly benefit from his choices? Insider training is already illegal, but what do we do about politicians and presidents giving out insider info to rich buddies who turn around and invest it into your re-election campaign?

(Investors Business Daily) Killing the Keystone XL pipeline may help one of the world’s richest men get richer. North Dakota’s booming oil fields will now grow more dependent on a railroad the president’s economic guru just bought.

Stop us if you see a pattern here. About the time George Soros — Hungarian billionaire and key donor to leftist groups and the Democratic Party — invested heavily in the stock of the state-run Brazilian oil company Petrobras, President Obama was curbing U.S. offshore oil production and the U.S. Export-Import Bank announced a $2 billion loan to Petrobras to finance deep-water drilling off the pristine beaches of Sao Paulo and Rio de Janeiro.

As he was imposing curbs and moratoria on U.S. offshore drillers, President Obama wished the Brazilians well in the hope we would someday be Brazil’s best oil customer.

Read the full article at IBD…