The Warren Buffett Scandal That Nearly Destroyed Wall Street

In 1991, Warren Buffett (CEO of Berkshire Hathaway) got caught up in a scandal that nearly destroyed his career. Salomon Brothers (of which Buffett was a director and major shareholder) had broken U.S. securities laws around trading of Treasury Bonds, but hid their wrongdoing from the Federal Reserve, the Treasury and the SEC. In the fallout that followed, Warren Buffett was almost faced with being the figurehead of an imploding Salomon, an event that would have tarnished his reputation forever. So, how did Buffett turn the situation around?

★ ★ CONTENTS ★ ★
0:00 The Salomon Brothers Scandal
0:30 Buffett's Questionable Purchase of Salomon
1:20 The Salomon Treasury Bond Scandal
6:00 Buffett Steps Up As Chairman
8:49 The Most Important Call of Buffett's Life
10:53 Buffett Saves Salomon From Bankruptcy

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[NewMoneyYouTube]

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[benixmaximus]

I get that it probably gets more clicks but it's misleading having made up twitter posts on thumbnails

[timjones]

Buffet and Munger are the last folks on Wall St with a sense of honesty, responsibility, right and wrong. We need grown ups like this to set the standard, keep greed and dishonesty in check, keep our investments safer.

[venil]

i realized that i had never see warren buffet young! he always appears as senior old man!

[vvik]

Hi and thanks for your videos!!! 👍👍👍
As we are moving to a new chapter and may be the udjustments are comming to wall street would you consider make more videos about different adjustments moment in the market that happened before?

[rory]

Excellent video on historic moments on Wall Street. More to come please!

[johantansir-ntep]

Your title are not accurate and a little clickbait

[antilogism]

Nice work! Entertaining and informative.

[LordMikoOfVegas]

Awesome story of history! Great content!

[christopherhumphrey]

I can see why a BIG part of Buffets investment strategy has to do with a thorough investigation into management.

[ElectricDreams]

Quite a few unimpressed viewers. You should prob pay attention Brandon - don’t alienate your core group.

[ivanlam]

So in the end it comes down to the quality of a persons character, it's not money that makes the world go round

[KLLRDM]

Look at stock GMBL, on dividend dat I have a feeling it's popping 30%

[wa]

Fantastic video! Great story. It was well told; pacing was perfect. It highlighted the importance of people willing to step up and take responsibility.

I would recommend considering doing additional deep dives on other investing giants such as Ray Dalio, Peter Lynch, etc. and how decisions they made along their careers impacted investors and the community.

[paulohenriquearaujofaria]

So ... there was Tweeter in 1991... such a fake

[lisalove]

Oh that's why he doesn't care for bankers. Makes sense now

[john]

Everyone knows Waren doesn’t do twitter

[opredeleno]

waiting for the video about China's bond default

[GLClarity]

i don’t know why people think this is clickbate . it’s on point to me

[doristan]

The too big to fail culture on wall st needs to go. Thats why there was big bailouts on wall st in 2008, with taxpayers $. This coming recession/depression will make 2008 GFC look like childs play. Again big bailouts for wall st with tax payers $