Skip to main content

No One From Goldman Sachs Has Called Warren Buffett About Unwinding His Stake, Or So He Claims

  • Author:
  • Updated:

Late last week, it was reported that Goldman Sachs has been considering paying back the $5 billion bone thrown to them by Warren Buffett during the scariest part of the financial crisis. It was very kind of him and all and they're eternally grateful but as the firm is back to making it rain ka-ching on each other's faces and the terms of the investment (special dividend payments of 10% a year on the bank's preferred stock, plus warrants to buy shares of Goldman at $115/share) are, how to put this in a way WB will understand, like having the twin Geico cavemen play tug of war with your testicles-- nice/somewhat intriguing under extraordinary circumstances/unusual dry-spells but fairly uncomfortable and not a place you want to be after the first or second yank, Lloyd and Co would like to put the experience behind them. Which, sure they do, but as Buffett's payout is working out to be about $15 per second, it's probably not something he'll want to give up easily, and if he has to fake not knowing how to check his voicemail again, so be it.

“I have not received a call yet from Goldman telling me they want their money back,” Buffett told FOX Business’ Liz Claman. "They’ll call when they can, and it’ll be a sad day,” he said with a laugh, because it was so profitable to his own shareholders.

Buffett: Sad Day When Goldman Unwinds Stake [FBN]