Buffet says he supports Goldman's Blankfein 100%

Warren Buffett, the Wall Street critic who invested $5 billion in Goldman Sachs Group Inc., said he supports the bank's Chief Executive Officer Lloyd Blankfein "100 percent" after the firm was sued by regulators for fraud. "He's done a great job running that firm," Buffett said today in Omaha, Nebraska in a Bloomberg Television interview before the shareholders meeting for his Berkshire Hathaway Inc. "He's smart. He's high grade." Buffett became one of Goldman Sachs's most visible advocates amid public outrage over the bank's pay practices and conduct with customers. He backed Blankfein in January, saying the bank's leader since 2006 "has been the right man" for the job. Last month, Goldman Sachs was sued by the U.S. Securities and Exchange Commission, and Blankfein, 55, was pilloried in Congress on April 27. Source: Bloomberg