To recover from the financial crisis, investment banks like Goldman Sachs (NYSE:GS) and Bank of America (NYSE:BAC) needed capital and credibility. They turned to Berkshire Hathaway(NYSE:BRK-B) for both, giving Warren Buffett incredible leverage to set the terms of his investments.
Matt Koppenheffer owns shares of Berkshire Hathaway, Goldman Sachs, and Bank of America. The Motley Fool recommends Berkshire Hathaway and Goldman Sachs. The Motley Fool owns shares of Bank of America and Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days.