Saturday, 1 May 2010

Why I am uneasy about Buffet's unreserved endorsement of Goldman Sachs

The fact that Warren Buffet has provided 100% support to Goldman Sachs management in connection with the possible criminal charges is, in my estimation, only somewhat surprising. As one of the world's richest men it is entirely Darwinian to support the main financial hub in a fragile and complex financial system.

His endorsement for the firm is expedient and even what might be called judicious, however it remarkably fails to address many of the ethical issues which have been raised - including those at the recent Senate hearings.

The only surprise for me is that his endorsement has been reported as being 100%.
Surely nothing can be that certain. There must always be a residue of doubt/reservation for a reasonable man when allegations have not be diligently examined and even articulated yet by those investigating the firm's conduct.

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