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Just for the record, it was the WSJ which reported that Buffet made an offer
for 100% of LTC for about $250 million. This normally wouldn't make it
absolutely true, but they did publish an actual copy of the 1 page contract
Buffet sent to Meriwhether! I don't think the WSJ is in the forgery
business, and I think it's safe to say Buffet would have made a public
announcement denouncing them after they did so...
Bruce
>Howard,
>
>Thanks for clearing that up. When I read that my first thought was that
you have
>brokers and banks losing millions then suddenly, out of nowhere,
unsubstantiated
>and on the net, the ol' Warren Buffet rumor. Coincidence? I think not.
Reminded
>me of Bre-X.
>
>A.M.
>
>HBernst963@xxxxxxx wrote:
>
>> Warren Buffett did not offer to buy 100% of Long Term Capital. He was
asked to
>> buy in to it and he, being the smart investor that he is, refused. That's
why
>> the Fed had to strong arm the banks to buy LTC.
>>
>> As for sales, retail sales are now tanking. Many companies have announced
>> layoffs in the last few days. Banks are cutting back on credit rapidly.
>> Caution is warranted.
>>
>> Howard
>
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