Charlie Gasparino Reporting That Goldman Sachs Will "Immediately" Unwind Buffett's Stake If Dividend Rule Is Lifted

Fox Business Network (FBN) Senior Correspondent Charlie Gasparino reports that Goldman Sachs is anxious to unwind Warren Buffett's stake in the company and the “dividend rule was the one thing holding it up.” Excerpts from the report can be found below courtesy of Fox Business Network. On what Goldman Sachs will do with Warren Buffett's stake if the dividend rule is lifted: “Last night I was speaking to someone close to Goldman Sachs who said they expect to unwind that stake immediately because the dividend rule was the one thing holding it up and so now you will see Goldman Sachs unwind that Buffett's stake.” On how the dividend rule has been preventing Goldman Sachs from unwinding shares: “We have been reporting that Goldman Sachs is looking to unwind its stake that Warren Buffet holds. He bought during the height of the fiscal crisis about 50 billion dollars and he told Liz Claman he is making fifteen dollars a second on that stake and they would just love to unwind that. One of the hurdles was this dividend rule.” On Warren Buffett's stake in Goldman Sachs: “It was a very profitable investment for Warren Buffet. It was much needed for Goldman. When Buffet put his money in the firm, it was a vote of confidence to the markets that Goldman was going to survive the 2008 financial crisis, but it was very costly.”