You don't really know much about Warren Buffet. He is famous for paying unusually high taxes compared to his peers because he thinks it is the right thing for people in his position to do.
I know [who he is] and besides this he is almost a financial saint. Still, he backs this bailout and will make huge profit on it. Oh, and the bailout favors his other investments.
Being foreign, the bailout favors me as it helps my savings indirectly. But it is the largest scam in history.
AFAIK Buffet would support a bailout that involved buying assets at fair market value because he thinks the government could make a lot of money. He said that not buying at market value and instead giving the banks whatever they ask for these assets will likely lead to a wasted 700b. So at least in theory he supports doing the right thing.
I don't know anything about his involvement with Goldman, but maybe he realized the government will do the wrong thing anyway so he might as well profit from it.
I don't know anything inside or specific but I have read some books on buffet. He invests in good companies that are below market rates. His generally buys companies that have sound financials and will continue to make money. He also likes companies that make simple products (razor blades, furniture, not technology : ).
Buffet has gone on record multiple times (cnn, print interviews) saying he would be the person who buys the mortgages from the banks and resales them later if he could get a 700 billion dollar or comparable loan.
The mortgages are current artificially low because everyone is scared. If you can buy them low and sell them once the fear is gone, you could make a ton of money.
People will make money on this situation, the government will completely mess up some aspects of this, articles will be written 'exposing' all the problems.
