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Munger Says Wall Street Bankers Share Blame for European Crisis

Charles Munger, whose Berkshire Hathaway Inc. holds $5 billion of options on Goldman Sachs Group Inc. stock, said the role of investment bankers in helping to mask Greece’s financial troubles was “perfectly disgusting.”

“Wall Street to some extent is deliberately trying to profit from sin, and I think it’s a mistake,” Munger told reporters yesterday after Berkshire’s annual press conference in Omaha, Nebraska. “Why should an investment banker go to Greece to teach them how to pretend their finances are different from what they really are? Why isn’t that a perfectly disgusting bit of human behavior?”