Buffet backs embattled Goldman CEO

WASHINGTON: America's most famous investor Warren Buffett on Monday threw his weight behind Goldman Sachs' Lloyd Blankfein saying the embattled CEO should not step down.

Buffett said he did not think the company -- in which he invested five billion dollars at the height of the financial crisis -- did anything wrong in selling complex financial products despite criminal and civil allegations of fraud.

"I do not see a problem," Buffett told CNBC, addressing fraud allegations leveled by the Securities and Exchange Commission.

The company is accused of allowing a prominent hedge fund to help put together a product that was sold to clients at the same time as the fund was betting against it.

Buffett said Blankfein, who has been hauled in front of US lawmakers to answer the allegations, has done a great job of running Goldman Sachs.

"I'd rather have him run it than anybody else," Buffett said.