Lunchtime Links: Warren loves you

And you, and you, and you, and you. Warren Buffet The great investment guru in the sky is giving Goldman Sachs $5bn in an apparent indication that he who can do no wrong thinks investment banks aren't doing too badly after all.

Warren's windfall is already spreading warmth through the system: Goldman's stock was up 8% in the aftermarket, Morgan Stanley's was up 10%, Bank of America's was up 4%. However, as various persons have pointed out, Buffet's largesse isn't without strings attached: he gets the right to buy $5bn of common stock at any time over the next five years at 8% less than Tuesday's closing price. Warren's not infallible, though: his 1980s investment in Salomon Brothers didn't go too great.

Sumitomo might want a piece of Goldman, too. (Bloomberg)

Nomura and Mitsubishi rewarded for their investments. (Bloomberg)

Wanted: Anyone with knowledge of why Lehman went bust. (The Big Picture)

Paulson proposing to pay twice going rate for toxic waste. (BBC)

The Fed scorecard: $701bn spent, money markets frozen, risk premium at record. (Alea)

I AM MINISTRY OF THE TREASURY OF THE REPUBLIC OF AMERICA. MY COUNTRY HAS HAD CRISIS THAT HAS CAUSED THE NEED FOR LARGE TRANSFER OF FUNDS. (The Big Picture)

No bailout = carnage. (CNBC)

How close were we to meltdown? (The Atlantic)

Osman Semerci is hiring. (FT)

Lehman bankers in London put the collective good first. (The Times)

Sacked in the City? Try the civil service. (FT)