- Warren Buffett defends the indefensible
- POSTED 05.12.10
Dear Warren,
What were you thinking?
Your defense of Goldman Sachs, at your annual Berkshire Hathaway shareholders’ meeting, boiled down to “everybody does it, so no big deal.” You saw nothing special about the Abacus CDO, where Goldman failed to tell its mark—er, its customer—that the investment was designed to fail. It was up to the buyer [...]
