So what’s wrong with Goldman posting $3.44 billion in second-quarter profits, what’s wrong with the company so far earmarking $11.4 billion in compensation for its employees? What’s wrong is that this is not free-market earnings but an almost …
Posts Tagged ‘sachs’
“The Federal Government Works for Goldman and Not for Us”
July 16th, 2009 |
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Veteran reporter Robert Scheer writes today:The federal government works for Goldman and not for us.Is Scheer’s claim over the top?Well, the assistant secretary of the Treasury under Reagan (and former senior Wall Street Journal editor) Paul Craig Robe…
David Paul: The Greening of Goldman Sachs
July 16th, 2009 |
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The US economic turnaround may not be complete. The AIG turnaround may not be complete. The GM turnaround may not be complete. But Goldman Sachs…
Andy Borowitz: Goldman Sachs in Talks to Acquire Treasury Department
July 16th, 2009 |
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According to a Goldman spokesperson, the merger between Goldman and the Treasury Department is “a good fit” because “they’re in the business of printing money and so are we.”
Sarkozy Advisor Guaino: Goldman Pay Is ‘Scandalous’
July 15th, 2009 |
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July 15 (Bloomberg) — Goldman Sachs Group Inc.’s decision to boost compensation after posting record second-quarter sales yesterday should prompt politicians to revise pay rules, French President Nicolas Sarkozy’s top adviser, Henri Guaino, s…
Peter Daou: Palin-Mania: How Goldman Sachs Robbed Us While We Obsessed About Sarah Palin
July 15th, 2009 |
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I don’t post with the aim of being contrarian, but lately I’ve found myself swimming against the tide of Democratic/progressive conventional wisdom. I questioned the…
Robert Scheer: ‘Government Sachs’ Strikes Gold … Again
July 15th, 2009 |
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Connect the dots: Goldman Sachs made $3.44 billion in profit this past quarter, while the U.S deficit topped $1 trillion for the first time in…
Keeping up with the Goldmans
July 15th, 2009 |
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Goldman Sachs’s record profits owe more to lack of competition than market recovery
TO THE survivors, the spoils. That is the cry going up at Goldman Sachs after it chalked up recession-defying—nay, record-breaking—quarterly profits on Tuesday July 14th. Minting more than $3 billion in as many months, so soon after its own near-death experience in the wake of Lehman Brothers’ demise, will enhance Goldman’s reputation as Wall Street’s overachiever. But it will also strike some as faintly obscene given the scale of public support needed to keep the firm and its peers from buckling last year.
The first half of 2009 was fertile for investment bankers as markets rebounded and companies (not least banks themselves) rushed to raise debt and equity. But none of the banks still due to report, not even a resurgent JP Morgan Chase, is expected to come close to Goldman’s blow-out performance. Having incurred smaller losses than rivals, it is still prepared to deploy risk capital where others fear to tread. …
Goldman Sachs Execs On Track For Record Pay
July 15th, 2009 |
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NEW YORK (AP) — Goldman Sachs is emerging as the king of post-meltdown Wall Street.
Already the most powerful U.S. financial company before the credit crisis, the bank profited handsomely from Wall Street’s rally and the recovering credit ma…
Les Leopold: Happy Days are Here Again! (Here = Wall Street)
July 14th, 2009 |
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What did Goldman Sachs actually do that was useful for society, after having helped to drive our economy off a cliff? And why aren’t our elected leaders doing something about it?
Goldman Sachs sees bumper profit
July 14th, 2009 |
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US bank Goldman Sachs has unveiled net earnings of $3.44bn (£2.1bn) for the April to June period – well above what analysts had forecast.
It comes after the bank startled Wall Street by reporting it made $1.8bn in the first three months of the year, despite the economic crisis.
The firm has recently paid back $10bn in federal aid intended to help it steer through the global turmoil.
It is expected to pay about $18bn in pay and bonuses to its 28,000 staff.
Six months ago, Goldman saw its first quarterly loss since going public in 1999, after being battered by the economic crisis.
Its share price, while still well off its high, has gained about 75% in 2009.</p
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
Mike Lux: Congrats, Goldman, On That Enormous Profit, Now When Do The Rest Of Us Get Something?
July 14th, 2009 |
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If you’ve seen the news today, you know Goldman Sachs exceeded its second quarter expectations for earnings, making $3.44 billion after dividends. As I wrote…
Goldman Execs Sold $700M Of Stock, Most Of It During Their Bailout
July 14th, 2009 |
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Executives at Goldman Sachs sold almost $700m worth of stock following the collapse of Lehman Brothers last September, according to filings with the Securities and Exchange Commission.
Most of the sales occurred during the period in which the…
Goldman Sachs Likely To Post Huge Profits, Analysts Say
July 13th, 2009 |
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Most of Wall Street, and America, is still waiting for an economic recovery. Then there is Goldman Sachs.
Up and down Wall Street, analysts and traders are buzzing that Goldman, which only recently paid back its government bailout money, will…