
Warren Buffett, the billionaire Berkshire Hathaway investor who seems to have more billions of dollars to spare than the U.S. government, just threw down a $3 billion stake in General Electric, the parent company of NBC, after throwing $5 billion at Goldman Sachs to float the bank's bragging rights as a survivor of the economic fallout. And while we care about Wall Street and all that, it's Buffett's investment in GE that piqued our interest, particularly because of the favorable terms he worked out with maybe racist Jeff Immelt.

GE sold Buffett $3b worth of preferred stock, which pays a 10 percent dividend, though NBC is entitled to buy back the stake in three years so long as they fork over a 10 percent return, or $3.3b. But Buffett wouldn't have extended an olive branch to GE if things weren't even more favorable to him. And indeed, they are: Buffett's Berkshire Hathaway "is receiving warrants to purchase $3 billion of G.E. common stock for $22.25 a share, at any time over the next five years." With GE trading at $24.50 a share now, if the stock goes up, Buffett gets to pick up a larger stake at a discounted rate. And now that Buffett has given GE his vote of confidence, well, that's a pretty possible scenario, since Wall Street sees Buffett's touch as that of Midas.
So, good news for everybody, right? All of this dealmaking, though, has one individual raising a single eyebrow: Brian Williams.

Blogging before last night's NBC Nightly News, the anchor surmised: "After hearing the news today that Warren Buffet [sic — Williams spelled his name wrong-y!] is now a $3 billion investor in our parent company, GE — following his $5 billion to Goldman Sachs — does this not make him our 'central banker'?"
Indeed. While AIG, Fannie Mae and Freddie Mac are now the bitches of Ben Bernanke, General Electric — and Mr. Williams — have Warren Buffett to please. Stay classy, and neutral, NBC.

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