I might not say tremendously because GE and GS came to him in desperation looking for capital. Buffet probably would have done bigger deals with even better terms if they didn't get any bailout money. But his much bigger holdings in Wells Fargo sure benefited!
GS especially was buying Buffett's credibility more so than they needed a cash infusion in the wake of the financial meltdown.
GS had a deal with Buffett squared away before the Feds ordered them to take TARP money, which they repaid at 20% interest! It's unreasonable to lump them it with the others.
True. Too bad the media is on a witch hunt, and finds it convenient to gloss over facts for the sake of generating indignation over Tax-Payer Funded Bonuses Of Inconceivable Magnitude, so most people don't know this.
The GS employees I know are not happy about this...
They should include in their annual report "this year our corporate tax paid for x nurses and income tax on our employees bonuses paid for y teachers".
He's like a very good baseball fielder who moves to where the ball will be. It's not his doing that the govt. is doing all this bailout crap. He just positioned himself under the rain of money.
Profits, not mountains of debt. secure jobs, no govt. bailouts, etc. etc. old school.
Buffet will be studied for generations to come.