Buffet sinks $3b into G.E., and as Edward Yardeni points out, “Warren Buffett has become the new triple-A credit rating system. It’s a big endorsement for G.E.”(Like the Goldman deal, he gets his own class of fancy stock that, in this case, pays dividend of 10 percent, and G.E. can purchase the shares back from Mr. Buffett after three years by paying a 10 percent premium, or $3.3 billion.)
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