I still 'love' $5bn Goldman stake: Buffett

Warren Buffett has vigorously defended Goldman Sachs against fraud allegations being levelled at the investment bank.

It is the first time the Sage of Omaha has spoken out since the SEC filed civil fraud charges against Goldman, which stands accused of deceiving investors ACA and IKB in a complex mortgage-backed derivative called Abacus 2007. However, Buffett told 40,000 shareholders at the annual general meeting of his company Berkshire Hathaway that "there is no question the allegations alone" have hurt Goldman but they had not been proved, the Daily Telegraph reports. Buffett has worked closely with the bank for 44 years and denied the charges would reflect on Goldman chairman Lloyd Blankfein. ...