For all the good one does in ones life. It is still amazing to me how fast a little bit of money on the line will change ones perspective/ethics.

Now, $5 Billion is not a "little" bit of money, but for Warren Buffett, it appears to be the amount that takes him to sell his soul.

He came out yesterday at the Berkshire Hathaway shareholders meeting and formally announced his 100% support for Goldman Sachs and stated they did nothing wrong on the Abacas Trades.

What are the Abacas Trades? 23 portfolio's of mortgage backed securities or CDO's as they are popularly known which were put together in 2007 and sold to unsuspecting pensions/counties/cities so forth as AAA backed bonds.

The only problem, these were not AAA bonds but toxic sludge hand picked by a hedge fund, Paulson and Co., and designed to fail from the onset.

Long story short:
Imagine a casino (Goldman Sachs), you show up and place a wager on the roulette wheel. Black or Red. Basically a 48% chance of being right. You understand the odds and are willing to play this game of chance. One problem with our "game of chance". Unknowingly to you, the day before you showed up, another gambler, a big fish  (Paulson), walked into the casino and asked to create a NEW roulette wheel which they wanted to play on. Only this roulette wheel was 97% Black and only 3% red. The casino happy to oblige the big fish gambler created the NEW game of chance and the big fish proceeded to play their rigged game betting on the 97% odds black.

You, the unsuspecting gambler play this roulette wheel which had a mask placed over it hidding the real odds of the wheel. You are told "RED" is the best choice by the casino as an inside scoop.

For all intents and purposes, this is the heart of the fraud Goldman allowed to take place milking billions in losses to unsuspecting gamblers (Pensions, counties, hedgefunds...) who believed they were playing a fair game and Warren Buffett is all to happy to say they did nothing wrong.

Before the fraud case came out, Buffett had a $3 Billion profit in his Goldman Sachs investments within Berkshire Hathaway. Today his is only up $1.3 billion. If Karma has its way, hopefully he'll be down $5 billion before you know it.

Warren, are your feet beginning to get hot.....