Warren Buffett was in Omaha, Nebraska this past weekend reporting to his faithful Berkshire Hathaway shareholders. He rambled for hours. One interesting part of his monologue was his defense of Goldman Sachs behavior leading up to and during the financial meltdown. He said, " Goldman was caught up in the worldwide mania that prevailed throughout the investment world".
But only Goldman has been charged with civil fraud by the S.E.C. And most people don't resort to stealing no matter what mania is prevailing. Of course Buffett has a large stake in Goldman and other financial service companies. So he's no doubt arguing this point based on his positions. All people evolve into caricature. Buffett is no different. His long time quest for money has now made him a cartoon of take-no-prisoners greed.
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