Goldman Sachs sees bumper profit.

[tigerbob]

Goldman Sachs is "helping the economy to recover".

BBC - July 14, 2009

Goldman Sachs sees bumper profit.

US bank Goldman Sachs reported a net profit of $3.44bn (£2.1bn) for April to June, beating analysts' forecasts.

Less volatility in stock markets, rises in global share prices and involvement in many firms' rights issues and takeovers had boosted profits, it said. The bank said it had set aside $6.65bn for pay and bonuses in the quarter - an average of $226,000 per employee.

Goldman has recently paid off $10bn of government loans it had taken as part of a government bail-out programme. Its results include a one-off charge of $426m related to the repayment of its government loan under the Troubled Asset Relief Programme (Tarp).

Record revenues

Some have raised questions over whether it is right that a bank make such profits and pay hefty bonuses so soon after receiving government loans.

But analyst William Smith, of Smith Asset Management said: "Goldman should be celebrated, not demonised." "Things are very fragile but they manage to make money in all environments, which is what you're supposed to do," he added.

Goldman's chief financial officer David Viniar said: "We are helping the economy to recover".

BBC NEWS | Business | Goldman Sachs sees bumper profit

 

[PoliticalChic]

Goldman Sachs is "helping the economy to recover".

BBC - July 14, 2009

Goldman Sachs sees bumper profit.

US bank Goldman Sachs reported a net profit of $3.44bn (£2.1bn) for April to June, beating analysts' forecasts.

Less volatility in stock markets, rises in global share prices and involvement in many firms' rights issues and takeovers had boosted profits, it said. The bank said it had set aside $6.65bn for pay and bonuses in the quarter - an average of $226,000 per employee.

Goldman has recently paid off $10bn of government loans it had taken as part of a government bail-out programme. Its results include a one-off charge of $426m related to the repayment of its government loan under the Troubled Asset Relief Programme (Tarp).

Record revenues

Some have raised questions over whether it is right that a bank make such profits and pay hefty bonuses so soon after receiving government loans.

But analyst William Smith, of Smith Asset Management said: "Goldman should be celebrated, not demonised." "Things are very fragile but they manage to make money in all environments, which is what you're supposed to do," he added.

Goldman's chief financial officer David Viniar said: "We are helping the economy to recover".

BBC NEWS | Business | Goldman Sachs sees bumper profit

Have you seen the Matt Taibbi article in Rolling Stone, which makes the case that Goldman Sachs owns the United States government- and the POTUS, as well?

It was the greatest corporate contribitor to the campaign, $1million, and has its hand in man pies, including the nacent Chicago cap and trade board.

Recall our President: "When he was on the campaign trail, President Obama made a big deal about his pledge not to accept money from lobbyists, and to keep them out of his administration. "http://www.salon.com/politics/war_room/2009/06/19/obama_lobbyists/

But "WASHINGTON — Treasury Secretary Timothy Geithner picked a former Goldman Sachs lobbyist as a top aide Tuesday, the same day he announced rules aimed at reducing the role of lobbyists in agency decisions.
Mark Patterson will serve as Geithner's chief of staff at Treasury, which oversees the government's $700 billion financial bailout program. Goldman Sachs received $10 billion of that money."http://www.usatoday.com/news/washington/2009-01-27-lobbyist_N.htm

“Curiouser and curiouser!” cried Alice (she was so much surprised, that for the moment she quite forgot how to speak good English)." Lewis Carroll

 

[RodISHI]

Goldman Sachs is "helping the economy to recover".

BBC - July 14, 2009

Goldman Sachs sees bumper profit.

US bank Goldman Sachs reported a net profit of $3.44bn (£2.1bn) for April to June, beating analysts' forecasts.

Less volatility in stock markets, rises in global share prices and involvement in many firms' rights issues and takeovers had boosted profits, it said. The bank said it had set aside $6.65bn for pay and bonuses in the quarter - an average of $226,000 per employee.

Goldman has recently paid off $10bn of government loans it had taken as part of a government bail-out programme. Its results include a one-off charge of $426m related to the repayment of its government loan under the Troubled Asset Relief Programme (Tarp).

Record revenues

Some have raised questions over whether it is right that a bank make such profits and pay hefty bonuses so soon after receiving government loans.

But analyst William Smith, of Smith Asset Management said: "Goldman should be celebrated, not demonised." "Things are very fragile but they manage to make money in all environments, which is what you're supposed to do," he added.

Goldman's chief financial officer David Viniar said: "We are helping the economy to recover".

BBC NEWS | Business | Goldman Sachs sees bumper profit

Have you seen the Matt Taibbi article in Rolling Stone, which makes the case that Goldman Sachs owns the United States government- and the POTUS, as well?

It was the greatest corporate contribitor to the campaign, $1million, and has its hand in man pies, including the nacent Chicago cap and trade board.

Recall our President: "When he was on the campaign trail, President Obama made a big deal about his pledge not to accept money from lobbyists, and to keep them out of his administration. "http://www.salon.com/politics/war_room/2009/06/19/obama_lobbyists/

But "WASHINGTON — Treasury Secretary Timothy Geithner picked a former Goldman Sachs lobbyist as a top aide Tuesday, the same day he announced rules aimed at reducing the role of lobbyists in agency decisions.
Mark Patterson will serve as Geithner's chief of staff at Treasury, which oversees the government's $700 billion financial bailout program. Goldman Sachs received $10 billion of that money."http://www.usatoday.com/news/washington/2009-01-27-lobbyist_N.htm

“Curiouser and curiouser!” cried Alice (she was so much surprised, that for the moment she quite forgot how to speak good English)." Lewis Carroll

Amazing and people believe that they were getting a true blue caring guy in the Whitehouse.

 

[Toro]

Goldman may have been toast had the government not bailed out the financial system, particularly AIG.

Average annual compensation set aside for Goldman employees this quarter? A cool $770,000.

Your tax dollars at work.

 

[tigerbob]

Goldman Sachs is "helping the economy to recover".

BBC - July 14, 2009

Goldman Sachs sees bumper profit.

US bank Goldman Sachs reported a net profit of $3.44bn (£2.1bn) for April to June, beating analysts' forecasts.

Less volatility in stock markets, rises in global share prices and involvement in many firms' rights issues and takeovers had boosted profits, it said. The bank said it had set aside $6.65bn for pay and bonuses in the quarter - an average of $226,000 per employee.

Goldman has recently paid off $10bn of government loans it had taken as part of a government bail-out programme. Its results include a one-off charge of $426m related to the repayment of its government loan under the Troubled Asset Relief Programme (Tarp).

Record revenues

Some have raised questions over whether it is right that a bank make such profits and pay hefty bonuses so soon after receiving government loans.

But analyst William Smith, of Smith Asset Management said: "Goldman should be celebrated, not demonised." "Things are very fragile but they manage to make money in all environments, which is what you're supposed to do," he added.

Goldman's chief financial officer David Viniar said: "We are helping the economy to recover".

BBC NEWS | Business | Goldman Sachs sees bumper profit

Have you seen the Matt Taibbi article in Rolling Stone, which makes the case that Goldman Sachs owns the United States government- and the POTUS, as well?

It was the greatest corporate contribitor to the campaign, $1million, and has its hand in man pies, including the nacent Chicago cap and trade board.

Recall our President: "When he was on the campaign trail, President Obama made a big deal about his pledge not to accept money from lobbyists, and to keep them out of his administration. "http://www.salon.com/politics/war_room/2009/06/19/obama_lobbyists/

But "WASHINGTON — Treasury Secretary Timothy Geithner picked a former Goldman Sachs lobbyist as a top aide Tuesday, the same day he announced rules aimed at reducing the role of lobbyists in agency decisions.
Mark Patterson will serve as Geithner's chief of staff at Treasury, which oversees the government's $700 billion financial bailout program. Goldman Sachs received $10 billion of that money."http://www.usatoday.com/news/washington/2009-01-27-lobbyist_N.htm

“Curiouser and curiouser!” cried Alice (she was so much surprised, that for the moment she quite forgot how to speak good English)." Lewis Carroll

This whole "no more lobbyists" (except under certain circumstances) thing is very Pythonesque.

 

[chanel]

Glen Beck just did a flow chart connecting all the dots. Scary how much they have made and will make if cap and trade passes.

 

[editec]

Lend me ten billion and I'll post a hefty profit next year, too.

 

[Neubarth]

I was so impressed that I double shorted the market again this afternoon just before the close. To do so, buy DXD. It is an exchange traded (Mutual) fund.

 

[Neubarth]

Lend me ten billion and I'll post a hefty profit next year, too.

The first thing that AIG did when they got the mega billions from the government was give Goldman 18 Billion of it.

The "earnings" are all due to borrowing money at 0 interest and selling refinanced mortgages at over 5% and then dumping them on Fanny May or Freddy Mac. They are also using derivatives tied to the Market rise that Geitner and Bernanke have been talking up. The out and out lies that those two clowns have come up with to get fools to buy into the market is astounding. Yet they have helped GS show a good profit.

Do you remember back to the initial efforts to sell houses to the Blacks who could not afford them. Greenspan was behind that in spades. He came out and said that the best way to finance a mortgage was with a Variable rate interest loan. Sure, and that is what they sold to the poor blacks who thought they were getting someting.

When that happened, I wanted to sell my 8 bedroom house in San Diego and move to the midwest where house prices were still realistic. Well, my wife decided that she did not want to move, so we are still here, but ten of the fifteen houses around me are in foreclosure. My house has gone down in valur from over $800,000 to under $500,000 and with all the variables coming up for forclosure, housing prices will continue to plummet for two to three years to come. Damn, I wish I had sold.