Warren Buffett defends Goldman at Berkshire's annual meeting

Berkshire Hathaway chief Warren Buffett said at the company's annual shareholders meeting that Goldman Sachs wasn't at fault over the mortgage-securities deal that has triggered accusations of fraud from the Securities and Exchange Commission. Berkshire's vice chairman, Charlie Munger, said inept regulation by the government was the major factor in the financial sector's problems. "Our problem is that our commercial banks and our investment banks have been regulated with a combination of permissiveness and stupidity," Munger said.