Buffett’s $5 Billion Goldman Investment Seen As a Calming Influence
9/24/08 at 10:01 AM
Investment guru Warren Buffett, who has avoided big investments since Wall Street's most recent crisis began, signaled a renewed faith in the stock market by agreeing to buy $5 billion in preferred shares of investment bank Goldman Sachs. He'll have the option to buy $5 billion in common shares later. The news appears to already have had a stabilizing effect on the markets. [NYT]
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