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Warren Buffett's Problem Child


By Pallavi Gogoi

When Salomon Brothers was embroiled in a bond-rigging scandal in 1991, Warren Buffett, its largest investor, took the helm as chairman and chief executive of the embattled company for an annual salary of $1. In testimony before Congress, Buffett said his message to Salomon employees was he would understand if they lost money for the firm. But then he warned of his less-understanding side: "Lose a shred of reputation for the firm, and I will be ruthless."

How ruthless can Buffett really be? We may soon find out. Fourteen years after his testimony, the Sage of Omaha is faced with a corporate-reputation scandal that may rival the Sa


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