Ava Quinn wrote a post · Mar 20, 2023 02:30

Is Buffett the banking savior this time?

The chairman of Berkshire Hathaway (NYSE:BRK.B) invested $5 billion in Bank of America (BAC) in 2011 as he tried to bolster the bank due to its losses tied to subprime mortgages. In 2008, Buffett came to the aid of Goldman Sachs (GS), investing $5 billion in the bank in the depths of the financial crisis.

There have been several conversations between Biden officials and Buffett in the past week, according to Bloomberg report on Saturday, which cited people familiar. Is Buffett the banking savior this time?

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Ava Quinn

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