Multibillionaire Warren Buffett may sound cuddly, but he’s talking from both sides of his mouth
August was a typical month for Warren Buffett, America’s second richest man. While the leisure classes lolled, he called for higher tax rates for the rich. If America had a debt problem, he wrote in the New York Times, it was high time the rich paid a greater share of their earnings to the government.
Then, two weeks later, he sank his fangs into the fleshy rump of Bank of America, one of the bailed-out giants still staggering three years since the start of the financial crisis. Buffett had been circling Bank of America for a while, hoping that its problems would force it into his arms. It was simply a question of when not if they would have to take his money.
By the time they succumbed, it was on typically usurious terms.
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