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The latest dent in Goldman's armor -- and one that sent sparks flying in the direction of Omaha -- was the news that a Goldman director who is on his way out of the board room, director Rajat Gupta, allegedly passed on insider trading information to already ethically challenged Galleon Group hedge fund founder Raj Rajaratnam, about Buffett's then-impending $5 billion investment in Goldman. Buffett and Berkshire Hathaway have plenty of reason to stand behind Goldman Sachs, given the $5 billion investment Buffett made in Goldman at the height of the financial crisis. Still, Buffett's investment in Goldman has raised questions about the businessman with the world's most sterling reputation potentially suffering a reputational stain. In fact, Buffett has been busy issuing smoke signals about Goldman's integrity as negative events unfold. The Oracle of Omaha has not come forward himself and said in his own words that he stands by Goldman Sachs, but Berkshire Hathaway directors have been busy serving as public relations ballasts for Goldman Sachs. Just days before the Goldman fraud charges, a Berkshire Hathaway director gave an interview to Bloomberg TV reiterating that Berkshire Hathaway stood behind Goldman and its integrity. As news of the Goldman Sachs and Galleon Group insider trading scandal surfaced on Thursday, another Berkshire Hathaway director took to the airwaves, granting another interview to Bloomberg TV. The second Berkshire Hathaway director was provided even more leeway by Omaha to extend the "We Stand by Goldman" line, notably referencing a phone conversation he had just had with Buffett, and the words of support Buffett had provided for Goldman Sachs in the private phone conversation. It's a bit of irony that the same Goldman investment made by Buffett that has now forced the Oracle of Omaha to send out his board room minions in defense of Goldman, has also linked him back to Goldman by way of insider trading charges. Loading Comments... 1 2 3 Last » Next ›SHARE:
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