Banks, Goldman Sachs | featured news

It's 12 months later and Warren Buffett's Berkshire Hathaway is $3 billion richer. One year ago today, on September 23, 2008, with the financial world still reeling from the collapse of Lehman Brothers just days before, Buffett stunned Wall Street with a massive vote of confidence for Goldman Sachs.

Goldman Sachs earned second-quarter profits of $3.44 billion, continuing a robust turnaround since it rode out the tumultuous final months of 2008 with the help of a federal rescue.

Goldman Sachs Group Inc executives sold almost $700 million worth of stock since the collapse of rival Lehman Brothers last year, the Financial Times said on Monday.

The bank holding company wants to return funds to taxpayers, but it will not do so before the stress test.