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Warren Buffett to Co-Chair Goldman Sachs Program to Help Small Businesses
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Executive Producer
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A Goldman news release tonight (Tuesday) says the initiative will "unlock the growth and job-creation potential of 10,000 small businesses" by providing them with "greater access to business education, mentors and networks, and financial capital."
Buffett provided Goldman with a $5 billion loan and words of praise last fall at the height of the credit crisis. (The arrangement has proven to be very profitable for him so far.)
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According to the Times:
“I would not be doing this if I didn’t think there was going to be a significant net benefit to small-business owners in this country,” Mr. Buffett said, adding that he was not disturbed by Goldman’s image problems and defended its hefty profits. “They are making a lot of money now,” he said. “I am all for it and this program is a beneficiary.”
Current Berkshire stock prices:
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Class A: [BRK.A
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Class B: [BRK.B
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Goldman Sachs: [GS
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