Buffett Backs Goldman Sachs

May 2, 2010  |  

(Fortune) — Warren Buffett offered his strongest defense yet of Goldman Sachs, saying he doesn’t believe the investment bank acted improperly in a sale of subprime-related securities at the heart of a Securities and Exchange Commission fraud case.

“I do not hold against Goldman at all that an allegation has been made,” Buffett said Saturday at Berkshire’s annual shareholder meeting in Omaha. He adds that he “loves” Berkshire’s lucrative investment in Goldman preferred stock and believes the firm remains the best investment bank in the world.

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