Buffett Buys $3B of GE Preferred, Company Selling $12B of Common

Let's get Warren Buffet for Treasury Secretary!!!!!! . . . .. .. . He could make sure the 700B was spent in the best way to protect and perhaps even benefit taxpayers!

Imagine a world without Buffett? I dont even want to...

First let me say I don't know much about how wall street is SUPPOSED to work but in these tough times Warren Buffet should be applauded for trying to help ( i know iknow he's doing to make a profit) but maybe if some others who have made HUGE HUGE money would follow his lead it may help to get us out of this mess

BUFFET, THE BARGAIN HUNTER!

Silver Surfer here... This is basically steeling from the shareholders of GE. Buffet can buy stock at a deep discount from market while dilluting existing shareholders. This has an automatic downward force on the price of GE. It is probably illegal and against SEC regs. But in this environment the strong are given free license to steel from the weak.

classic example of Rich getting Richer. Buffer is helping GE but it is capitalistic world where he will get richer.

Buffet while making money is instilling confidence in the markets - granted he himself is getting sweet deals the average joe cant get..the confidence he instills is invaluable.

Mr. Buffet probably buying what he can, but does it help or hinder? I mean he's doing what he's got to do. But why do I feel uneasy from someone gobbling every loomin buisness like a game of Packman? Am I wrong of thinkin' like this?

it looks like ge needed some cash that they couldent get elsewhere and at a 10 % return, thats what junk bonds pay

Are we supposed to say 'thank you?' Great deal for Warren. CNBC will tell us what a wonderful guy he is.

Mr. Buffet, don't stop there. You should lead an attempt to get rid of the CEO. He has mismanaged the company to the point that they need to strike a lucrative deal with you at the expense of common shareholders. HELP US OUT

WTF as a GE shareholder I feel robbed. Maybe the nay sayers are right maybe GE is a pos stock. Things so bad they have to buy a sponsor at a miminum of a 10% discount. Well congrats GE I'm sure CNBC will tell me how I lucky I am to own ya, but I'm done being your consumer and your shareholder when I get a chance to cash out.

WTF as a GE shareholder I feel robbed. Maybe the nay sayers are right maybe GE is a pos stock. Things so bad they have to buy a sponsor at a miminum of a 10% discount. Well congrats GE I'm sure CNBC will tell me how I lucky I am to own ya, but I'm done being your consumer and your shareholder when I get a chance to cash out.

lots of people seem to admire mr. buffet for being the richest man on earth and for making billions of $$. why the hell nobody ever asks, where this money comes from? where has this money been, before mr. buffet pockets it???

Buffet is betting big on BAIL OUT. He is a speculator not a True American. If he had principles he would not back a Bail Out. He is a speculator taking advantage of a potential buying oppurtunity that could very well back fire on him in a big way. If the market tanks look out GE, GS, and the unwinding of the MER and BofA deal. The MER deal can come under intense pressure soon as many law suits come out of the wood work. GS and a number of others will all probably experience more Law Suits as this unwinds. Nobody is really pricing this into their stocks yet. While all this is happening all we want are lower Gas Prices, Affordable Mortgages, Less Fees and Rates on Credit Cards, Jobs. Pretty simple things in a well run Capitalist Country nearly impossible in a Socialist State. Stop the Bail Out Now , Silver Surfer Out.

The news article said it was a vote of confidence. Hah, he didn't take common stock nor did he take bonds He took the hybrid route . preferred with a 10% coupon. Who knows what the rest of the terms are or if it is convertible at a huge multiple. Buffet to te rescue Give me Mother Thresa with a prayer not Buffet withhis blood sucking deals!

Buffet has a good idea because he is a matured and plenty of common sense not like in congress they are children very noisy but empty mind.

The legislation says that the Treasury Secretary can authorize the purchase of mortgage-related assets AND "any other" financial instrument "necessary to promote financial market stability." In effect, that means they can buy whatever they want, including things like auto loans. Andrew Moylan Government Affairs Manager National Taxpayers Union 703-683-5700 phone 703-683-5722 fax amoylan@ntu.org

Mr.Buffet I wish you could lone me a $100,000; this is what I been thinking of for years. Anybody with a lot of money, you'll make a whole lot of money in the future. When the market is this bearish, it is a great time to join in and invest. Sure, things may seem bad and may get worse, but let's face true reality. What? The whole country just going to die off, not likely. We are the world's leader and innovator, things will get better. Invest!

Warren pushed to the front of the line (preferred stock) and took a tidy 10% at both GE and GS plus a juicy option. Greed wins again! The common stockholders can forget about seeing dividend increases for the forseeable future. Thanks Warren.