This makes sense. Ensuring the GSG executives are at risk for mismanagement.
Wednesday, October 22, 2008
"Bloggers chimed in with foreboding, if accurate, reminders that Mr. J.P. Morgan, the Buffettesque figure of his day, bought big stocks including GE in the panic of 1929--before the crash. ... But the deep suspicion of [Buffett's] motives and acumen are another ingredient in the required concotion of fear and ill-feeling that will eventually mark at least a trading low in the market", Michael Santoli at Barron's, 6 October 2008.
"In exchange for his $5 billion investment in Wall Street firm Goldman Sachs Group Inc., [GSG] Warren Buffett is due a hefty dividend and an equity kicker, but he also got something else: a commitment from top company insiders that they will continue to hold a substantial stake in the firm. ... Thursday, [GSG] disclosed that Mr. Blankfein, Chief Financial Officer David A. Viniar and Chief Operating Officer Gary D. Cohn and John Winkelied had agreed to hang onto at least 90% of their current stock holdings for the term of the agreement. Their spouses and estate-planning vehicles are similarly restricted under the deal", Yogiat Patel at the WSJ, 8 October 2008.
Was there this suspicion of Buffett say five years ago? What's happened in the meantime?