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Non-Tech : Berkshire Hathaway Class B
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To: TimF who wrote (1623)9/25/2008 3:19:24 PM
From: tejek  Read Replies (1) of 1652
 
The deal is not a great deal for GS....no question. However, the money they raised isn't to pay off toxic assets. Its to raise cash. GS doesn't have deposits like other banks. In the past, GS has been totally dependent on the credit markets to get cash. And the credit markets are froze up for the forseeable future. So they had to turn to someone who was cash rich.......like Buffet. Buffet isn't stupid and took advantage of GS's dilemma.
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