Buffett Invests $5 Billion In Bank Of America

Buffett invests $5 billion in Bank of America

NEW YORK (AP) -- Warren Buffett is coming to the rescue of another fallen giant....

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    Well-known investor Warren Buffett is investing $5 billion into Bank of America, which in recent months has been plagued by legal trouble over its foreclosure practices and has seen its stock values plunge. The bank giant services one in five mortgages.
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    Warren Buffett’s Berkshire Hathaway Inc. will invest $5 billion in Bank of America to keep the company afloat after subprime mortgage-related losses left the lender low on capital. Bank of America announced the investment Thursday, saying it would sell ...
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    08/25/2011 - 2:46 am | View Link
  • Warren Buffett invests $5 billion in Bank of America
    NEW YORK (AP) -- Warren Buffett is coming to the rescue of another fallen giant. Buffett's Berkshire Hathaway announced Thursday that it would invest $5 billion in Bank of America Corp., giving a much-needed vote of confidence in the struggling bank.
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