In 2008, Warren Buffett made a series of investments into the US’s largest banks and financial institutions, including Goldman Sachs and Bank of America, in an effort to help stabilize the financial markets that were spiraling out of control due to the financial crisis.
By investing billions of dollars of his own money, Buffett provided the banks with much needed capital and confidence, helping to prevent a collapse of the US banking system. This move was widely praised as an example of Buffett’s legendary acumen, and it helped to restore faith in the US banking sector, preventing an even greater disaster.
