Berkshire Profit on Goldman Sachs Passes $2 Billion

Bloomberg reports:

Warren Buffett’s option to buy shares of Goldman Sachs Group Inc., part of an agreement reached at the depths of the credit crisis, has earned a profit on paper of about $2 billion, a return of more than 40 percent.

Goldman Sachs today passed $162 in New York trading for the first time since rival Lehman Brothers Holdings Inc. collapsed in September. Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc. has warrants to buy $5 billion of Goldman common stock for $115 a share any time in the next four years.

You know why Warren Buffett lobbied for the TARP bailout program? Look who's probably the single biggest beneficiary of looting the taxpayers: the hardly downtrodden Warren Buffett.