When LTCM collapsed, its executives tried to convince Buffett to come to its rescue, as he had done with Salomon Brothers a few years earlier.

The infusion of Warren Buffett's money, and the backing of his reputation, means that Goldman has so far escaped the fate of Bear Stearns and Lehman Brothers during the recent credit crunch.

Their combined fortune of thirty-five billion dollars is exceeded only by those of Bill Gates and Warren Buffett.