Buffett Watch

Warren Buffett's Goldman Defense Grabs Day-After Headlines


Warren Buffett's strong defense of Goldman Sachs against SEC accusations of fraud dominates the day-after headlines from coverage of this year's Berkshire Hathaway shareholders meeting in Omaha.

The New York Times calls Buffett's support for Goldman "full throated" but also notes that Charlie Munger "tempered his boss’s kind words," saying a company needs to behave both legally and ethically.

The Wall Street Journal reports Buffett's defense of Goldman received a "tepid" reaction from the crowd of roughly 18,000 inside the Quest Center Omaha.  "While a number of comments by the Berkshire chairman in the morning were greeted with strong applause by the crowd—almost entirely made up of Berkshire investors—his comments on Goldman were largely met with silence."

The UK's Guardian newspaper writes that despite Buffett's reputation as "friendly, folksy billionaire next door," when "push came to shove, the world's third-richest man aligned himself firmly with the big beasts of Wall Street."

Omaha's World-Herald focuses its lead article on Buffett's belief that Berkshire has been designed to be a "lasting model that makes the most of the American economic system and will continue to prosper long after he's gone."

And the video report from Omaha's NBC affiliate, WOWT-TV, focuses on young entrepreneurs who set up a lemonade stand opposite Buffett's famously unpretentious home, selling to the sightseers stopping by for a glimpse.  The sliding price scale: “$1,000 (for) Billionaires, $100 (for) Millionaires, 50 cents (for) New B Shareholders.”

Some examples of the global day-after coverage:

New York Times:Buffett Offers Supports of Goldman at Meeting

Wall Street Journal:
Buffett Defends Goldman; Berkshire Posts Profit

Fortune: Buffett backs Goldman Sachs

Financial Times (UK): Buffett stands behind Goldman Sachs

The Guardian (UK): Warren Buffett '100%' behind Goldman Sachs' chief Lloyd Blankfein

The Telegraph (UK):  Warren Buffett backs Goldman Sachs over fraud allegations

Xinhua (China):
Buffett says he 100 percent behind Goldman Sachs, Buffett says China amazing economy

Omaha World-Herald
: Berkshire: In for the long haul

WOWT-TV, Omaha: Warren Buffett Doesn't Disappoint

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