The financial community is in awe of Warren Buffett, and its participants have been quick to applaud his decision to invest $5bn (€3.4bn) in Goldman Sachs. But their appreciation of his genius is not reciprocated. On the contrary, Buffett has been a frequent critic of the way financiers have conducted their affairs. He can be expected to display tough love towards his latest investment.

Back in 1987, Buffett invested $700m in Salomon Brothers, later succeeding John Gutfreund as chairman following its involvement in a scandal over its bidding for US Treasury notes which enabled it to grab 90% of one particular issue in May 1990 - way over the permitted limit of 35%.