The fraud at the U.S. investment bank Goldman Sachs now brings the star investor Warren Buffett in Erklärungsnot. He would "give a detailed and comprehensive" information on its billions invested in the money house, the 79-year-old said before the meeting of his Berkshire Hathaway investment company, the Wall Street Journal. "I expect a lot of questions."
The TV station of the Bloomberg news service, he said that he supported Bank chief Lloyd Blankfein, even after the fraud action brought by the U.S. Securities and Exchange Commission 100 percent. "He has led his company well," Buffett said of Blankfein, "he's smart and he has great class."
Buffett, arguably the most prestigious of the capitalist United States, had put the climax of the financial crisis in September 2008, five billion dollars in Goldman Sachs and thus helped to calm the markets. Meanwhile, the SEC accused the investment bank to have cheated big investors such as the German Mittelstand bank IKB in the marketing of securitized mortgage loans (CDO). Buffett once described such operations as "financial weapons of mass destruction". Investors lost billions in the financial crisis with it.
For decades, were Buffett's Judgement and his moral stance beyond any criticism. The 79-year-old has made a lot of shareholders of his company to multi-millionaires. He bought most well running companies, and kept it long term or was involved in profitable companies like Coca-Cola and Munich Re. Buffett's Berkshire Hathaway shares have an estimated value of $ 47,000,000,000. He is considered the third richest man in the world. For the management of the company, he can pay $ 100,000 a year.
The major investor has taken in recent months in his criticism of the high salaries and bonuses for Wall Street bankers not mince words. This made him not only in the eyes of its own investors into a hero. According to recent surveys is Buffett's Berkshire Hathaway of the most admired U.S. company.
The Goldman-Sachs affair would bring the investment guru on a collision course with the major banks, which earn billions and again pay their executives big bonuses - despite his support for Blankfein. So far, Goldman's investment was lucrative for Berkshire Hathaway. The Group shall, at its Ordinary Shares per year $ 500 million. Annual General Meeting at the headquarters in Omaha 40 000 shareholders are expected.
The TV station of the Bloomberg news service, he said that he supported Bank chief Lloyd Blankfein, even after the fraud action brought by the U.S. Securities and Exchange Commission 100 percent. "He has led his company well," Buffett said of Blankfein, "he's smart and he has great class."
Buffett, arguably the most prestigious of the capitalist United States, had put the climax of the financial crisis in September 2008, five billion dollars in Goldman Sachs and thus helped to calm the markets. Meanwhile, the SEC accused the investment bank to have cheated big investors such as the German Mittelstand bank IKB in the marketing of securitized mortgage loans (CDO). Buffett once described such operations as "financial weapons of mass destruction". Investors lost billions in the financial crisis with it.
For decades, were Buffett's Judgement and his moral stance beyond any criticism. The 79-year-old has made a lot of shareholders of his company to multi-millionaires. He bought most well running companies, and kept it long term or was involved in profitable companies like Coca-Cola and Munich Re. Buffett's Berkshire Hathaway shares have an estimated value of $ 47,000,000,000. He is considered the third richest man in the world. For the management of the company, he can pay $ 100,000 a year.
The major investor has taken in recent months in his criticism of the high salaries and bonuses for Wall Street bankers not mince words. This made him not only in the eyes of its own investors into a hero. According to recent surveys is Buffett's Berkshire Hathaway of the most admired U.S. company.
The Goldman-Sachs affair would bring the investment guru on a collision course with the major banks, which earn billions and again pay their executives big bonuses - despite his support for Blankfein. So far, Goldman's investment was lucrative for Berkshire Hathaway. The Group shall, at its Ordinary Shares per year $ 500 million. Annual General Meeting at the headquarters in Omaha 40 000 shareholders are expected.
