Warren Buffett made a deal with BOA, whereby BOA issued him 5 billion

dollars of 6% preferred stock. The deal was good for BOA, which allow

BOA to increase its reserves to booster its firewall against new US

regulations requiring big banks to increase their reserves, and against

the possible contagious threat that the EU debt crisis and slow world

economy might infect the US economy.

Buffett's $5,000,000,000 of BOA's preferred stock carries options that

allow Warren Buffett to covert it into BOA common stock at $8.00 or$8.50

per share, (eg not sure about the exact conversion price, somewhere in

this range). It was a very sweet deal for all parties involved, but

especially for Warren Buffett.

$154,000,000

------------------------- = 3.08% gain is that big of a deal. LOL

$5,000.000,000

Regards,

LelandJ

On 02/10/2012 10:34 PM, Nicholas Geti wrote:

> Now we know why Buffet has been so happy with Obama.

>

> 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.

>

> http://freebeacon.com/warren-buffetts-net-worth-jumps-154m-thanks-to-mortgage-settlement/

>

>

>

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