Billionaire investor Warren Buffett steps in for banking crisis

According to sources familiar with the matter, billionaire investor Warren Buffett, CEO of Berkshire Hathaway, is meeting with senior officials from President Joe Biden's government due to the banking crisis in the US. Sources familiar with the matter stated that Buffett has met with US President Joe Biden's team several times. It was stated that the focus of the meetings was the possibility of Buffett investing in the regional banking sector in the US, and that Buffett also made some recommendations due to the recent turmoil. Buffett had previously supported banks in crisis with his investor status to restore confidence. In 2011, the billionaire businessman invested $5 billion in Bank of America, which was struggling at the time. Buffett's company Berkshire Hathaway also purchased stocks from Goldman Sachs in 2008 when the financial crisis was deepening. Due to the recent turmoil in the US banking sector, the largest banks in the US agreed last week to transfer approximately $30 billion in deposits to California-based First Republic Bank.