In a CNBC interview this morning prior to the special meeting of Berkshire Hathaway shareholders, Warren Buffett comments on a number of topics including the Obama Administration’s proposed bank tax. Mr. Buffett does not believe that banks are making “obscene profits” and companies that have already repaid TARP funds should not be forced to effectively pay for bailouts at Fannie Mae and Freddie Mac. Read this article for more details and to view the video.
In a press release issued by Berkshire Hathaway this morning, Kraft management is criticized for seeking a “blank check” which will allow the company to issue up to 370 million shares in order to facilitate an offer for Cadbury. The press release refers to Kraft’s proxy statement for a special meeting set for February 1 seeking approval for issuance of up to 370 million shares. Read this article for more details.