BOSTON ( TheStreet) -- Warren Buffett's $5 billion deal to backstop Bank of America (BAC - Get Report) is a sure bet for the billionaire investor. But given his warnings about the dangers of too-big-to-fail banks, Buffett is displaying hypocrisy as an enabler.Bank of America on Thursday announced an agreement to sell 50,000 preferred shares with an annual dividend of 6% to Buffett's Berkshire Hathaway (BRK-B), as well as warrants to purchase 700 million shares at an exercise price of $7.14 per share, exercisable at any time.
Buffett the Enabler of 'Too Big to Fail'
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