Buffett strongly defends Goldman now going to India to mess India up
Tushar Nandi
May 2, 2010

Warren Buffett on Saturday launched a strong defense of Berkshire Hathaway Inc's $5 billion investment in Goldman Sachs Group Inc. Now he is on his way to India to mess India up just like Goldman!

Buffett also said Berkshire swung to a $3.63 billion first-quarter profit from a year-earlier $1.53 billion loss, helped by an improving economy and gains from investments and derivatives. Operating earnings rose 30 percent to $2.22 billion from $1.71 billion, reflecting "a pretty good uptick" in business activity, he said. The SEC lawsuit alleged that Goldman hid from investors the fact that securities underlying a risky debt transaction were chosen by Paulson & Co, a hedge fund firm that was betting they would lose value. Goldman has called the charges unfounded, and Paulson was not charged.

Warren Buffett said on Saturday he plans to visit India next March, and would not rule out the country for possible future investments. Speaking at Berkshire's annual meeting in response to a shareholder question, Buffett said he had decided only on Friday to make the trip, saying the company's Iscar Metalworking Cos unit "is doing very well there." Buffett said "we do not rule out India" as a possible locale for future Berkshire investments, whether in companies or marketable securities, though bureaucratic obstacles could complicate any plans to invest, including limitations on foreign ownership. He added that "we''ve looked a lot at being in the insurance business in India." Insurance and reinsurance are Berkshire's main business lines.

Buffett strongly defends Goldman now going to India to mess India up
Tushar Nandi
Warren Buffett on Saturday launched a strong defense of Berkshire Hathaway Inc's $5 billion investment in Goldman Sachs Group Inc. Now he is on his way to India to mess India up just like Goldman!
READ MORE>>

British Pertoleum responsibe for Gulf oil spill and 100 billion dollar environmental disaster
Solarz Subedar
The oil spill will wipr out marine lives in hundreds of millions, cause hurricane, floods, change climate on the long term and bring economic disaster to many states in US and Mexico
READ MORE>>

Toyota Motor Corp. now faces more than 320 lawsuits in federal and state court
Tania Harding
The attorneys for the plaintiffs and Toyota listed 228 federal cases and 99 related cases in state courts. A judicial panel consolidated the federal cases before Selna last month.
READ MORE>>

The old guards use their guns again to protect the epicenter of corruption - Finance Overhaul Debate Blocked by Senate Republicans
Tania Solanki
Senate Minority Leader Mitch McConnell says 'All of us want to deliver a reform bill that will tighten the screws on Wall Street'....
READ MORE>>

Did Goldman put its own interest and profit ahead of the interests of its clients?
Alex Kosky
Can America finally control corrution and conflicts of interests? Wall Street’s most profitable firm, will face off against a U.S. Senate subcommittee today.
READ MORE>>

MORE ARTICLES >>