OMAHA, Neb.—Warren Buffett offered a vigorous defense of Goldman Sachs Group Inc. at Berkshire Hathaway Inc.'s annual meeting Saturday, saying the firm hadn't engaged in improper activity.
Goldman has been reeling from Securities and Exchange Commission allegations that the bank had engaged in fraudulent activities in relation to a mortgage deal called Abacus. Goldman says it did nothing wrong.
His comments offer a powerful vote of confidence in Goldman, which has seen its shares slide since the SEC announced the investigation on April 16. Goldman's shares fell 9.4% on Friday after it emerged that the Manhattan district attorney's office was conducting a preliminary criminal probe into its mortgage-trading activities.
Read the complete story at WSJ.com
Goldman has been reeling from Securities and Exchange Commission allegations that the bank had engaged in fraudulent activities in relation to a mortgage deal called Abacus. Goldman says it did nothing wrong.
His comments offer a powerful vote of confidence in Goldman, which has seen its shares slide since the SEC announced the investigation on April 16. Goldman's shares fell 9.4% on Friday after it emerged that the Manhattan district attorney's office was conducting a preliminary criminal probe into its mortgage-trading activities.
Read the complete story at WSJ.com
