Warren Buffett comes to the aid of Goldman Sachs
The ultimate investment sage Warren Buffett has surprisingly come to the defence of Goldman Sachs, bringing the US financial giant into his annual meeting speech for his investment vehicle Berkshire Hathaway. Despite the fact that Warren Buffett has been a longtime critic of some of the practices within Wall Street he is adamant that Goldman Sachs is only one of a number of companies caught up in the "mania that prevailed throughout the investment world".
This defensive speech from Warren Buffett will surprise many in the investment arena as this is a man who goes against the trend to make his significant investment returns. As a consequence, he has never really been on the same wavelength as those more traditional Wall Street investors and Wall Street traders but he does seem to understand and appreciate that it takes all kinds of investors to make a market.
Many believe that the pursuit of Goldman Sachs by the US regulator could be the first of a number of high profile court cases involving some of the best-known investment names in the world. Despite the fact that governments down the years have "jumped into bed" with the financial sector, and some of the investment names under threat, all that now seems to have been forgotten.
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