Buffett Watch

Warren Buffett Gives Goldman Sachs Unexpected $5B Vote of Confidence

In a surprise return to Wall Street, Warren Buffett's Berkshire Hathaway has a deal to invest at least $5 billion in Goldman Sachs.

Up until now, he has rejected all pleas to come to Wall Street's aid during the current crisis.

Goldman revealed the vote of confidence from the man generally considered the world's greatest investor late this afternoon in a news release.

Berkshire will buy $5 billion in preferred Goldman stock with a dividend of 10 percent.  It will also get warrants to