• 18 Apr 2011 at 5:00 PM

Goldman Sachs Officially Pays Back Warren Buffett

On the heels of a no good very bad month that’s included a (former) lieutenant causing trouble and his beloved All My Children getting canceled, Goldman Sachs has really put the icing on Warren Buffett’s cake.

The bank apparently bought back the preferred stock it sold Berkshire Hathaway when things got tense in 2008. As Goldman and Wall Street were in a bit of a bind at the time, Buffett was able to demand a set-up that made him more than $15 a second. That gravy train officially ended today, when GS sent WB $5.5 billion, not even having the decency to make him feel better about it by sending a camera crew, some balloons, and couple of employees bearing a massive cardboard check, doing this thing up Publisher’s Clearing House-style. [CNBC]

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