Well Warren Buffett got 10% Preferreds from Goldman Sachs for $5 billion dollars. I think they qualify as a legitimate financial institution. Also they got a big premium when GS bought back the "GICs" (Preferreds).******* wrote: ↑Nov 14th, 2013 12:17 pmSecond to the ridiculous BS you just spewed, please direct me to a bank or any legitimate financial institution that will give me 8% GIC's. I'm sure I have "enough" to invest. My clients and I would love it. When do you plan on waking from this dream of yours?
"Berkshire Hathaway will receive perpetual preferred shares in Goldman, which will pay a 10 annual percent dividend, or $500 million a year. Those dividends take precedence over other payments to common shareholders. Goldman has the right to buy back the shares at any time for a premium of 10 percent."
"Back in September of 2008, at the height of the credit crisis, Berkshire essentially loaned Goldman $5 billion at an interest rate of 10 percent a year. (That money was repaid in 2011.)"