The Pragmatic Capitalist brings us a must read letter that Warren Buffett sent to then Treasury Secretary Hank Paulson back in October, 2008. In the letter, Buffett lays out his framework for the PPPF: "Public Private Partnership Fund," which would allow the Treasury to partner with private investment to get more bang for its buck in purchasing troubled assets. It appears certain that this letter was a framework for the development of the eventual PPIP program.
Buffett even mentions how he had already talked to PIMCO's Bill Gross and Mohammed El-Arian about managing the program, and GS's Lloyd Blankfein about providing equity investment for it.
The letter is embedded at the bottom of TPC's post, and is a must read. Although I knew Buffett was always talking his book when he wrote the bullish on America Op-Ed during the midst of the crisis, I had no idea he was pulling the strings behind the scenes to create new policies that would bail out and profit his investments.
One of the commenters on TPC's piece also points to an old Barry Ritholtz post that shows just how much Buffett's holdings have been involved in the bailout proceedings. Another must-read post.