This is what Warren Buffett (Warren Buffett news) said about the embattled Goldman Sachs (NYSE: GS) CEO before the firm was charged by the SEC. "It's a very, very strong, well-run business. Lloyd Blankfein (Lloyd Blankfein news), you cannot find a better manager."

Has he changed his tune? We'll find out on May 1, when Berkshire Hathaway holds its annual meetings. The issue is bound to come up. Recall that Buffett bought $5 billion of Goldman preferred shares and warrants at the height of the crisis. That investment provides $500 million of dividends a year. So Buffett obviously wants the company to remain strong. But at the same time, Buffett has also been a critic of financial weapons of mass destruction.

To be sure, Buffett has experience in these situations. In 1991, he became interim chairman of Salomon Brothers to restore order after a Treasury auction bidding scandal, Reuters notes. He had a huge investment in the firm. He later testified in congress, saying, "In the end, the spirit about compliance is as important, or more so, than words about compliance. I want the right words and I want the full range of internal controls. But I also have asked every Salomon employee to be his or her own compliance officer." Will he say the same about Goldman Sachs? More than any other person, he may be able to influence the board. 

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