OMAHA — Berkshire Hathaway chief executive Warren Buffett declared his support for Goldman Sachs Group Inc. CEO Lloyd Blankfein on Saturday and said he has no plans to sell his company’s stake in the bank.
Buffett and Berkshire vice chairman Charlie Munger praised Goldman before a crowd of about 40,000 at Berkshire’s annual shareholder meeting. Both executives said they’re happy with Blankfein’s leadership and said they don’t view the Securities and Exchange Commission’s civil fraud charges against Goldman as a strike against him.
Buffett also said Berkshire rebounded from last year’s first-quarter loss and earned $3.6 billion as the economic recovery began and Berkshire absorbed Burlington Northern Santa Fe railroad. The full report will be released Friday.
