Bank of America Corporation announced today that it reached an agreement to sell 50,000 shares of Cumulative Perpetual Preferred Stock with a liquidation value of $100,000 per share to Berkshire Hathaway, Inc. in a private offering. The preferred stock has a dividend of 6 percent per annum, payable in equal quarterly installments, and is redeemable by the company at any time at a 5 percent premium. ZHThe Socialist Banking network distributes inside information to its favored clients. The implication here is that Timmy has promised a taxpayer guarantee, Obama is the salesperson.
Delong thinks that anti-democratic insider moves are good Keynesian stunts. A nationwide tax protest anyone?
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