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Thread: Goldman Sachs sees bumper profit

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by tlmorg02 View Post
    BBC NEWS | Business | Goldman Sachs sees bumper profit



    Looks like all of the Republican assertions of Socialism and meaningless bailouts prove to be BS. Goldman Sachs is profitable now and even paying back the government. I would think that a socialist dictator would not allow a nationalized company to pay back the loans and become private again. Thoughts?


    You think that's a success?

    You think taxpayer money floating a company so that that company makes a profit ....is a success?

    Its like me robbing you of 10 dollars betting it all on number 36 at the roulette table and then bragging about how great an investment it was.
    Hurrah!




    ..think outside the box they want you in...

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by Triad View Post
    You think that's a success?

    You think taxpayer money floating a company so that that company makes a profit ....is a success?

    Its like me robbing you of 10 dollars betting it all on number 36 at the roulette table and then bragging about how great an investment it was.
    Hurrah!




    ..think outside the box they want you in...
    They are paying tax payers back, and in doing so a greater economic decline was prevented. Companies make profits off of the tax payers all the time, look at DoD spending.

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by tlmorg02 View Post
    They are paying tax payers back, and in doing so a greater economic decline was prevented. Companies make profits off of the tax payers all the time, look at DoD spending.
    No, they aren't completely paying taxpayers back. They received 13 billion in taxpayer money from AIG. They aren't paying that back.

    Furthermore, they are taking huge risks to make this profit. If that risk turns sour. It will be the taxpayer that will take the loss, not Goldman. Many in the industry are voicing concern for Goldman. The few banks that have tried to follow Goldman's risky investing have been smashed by losses. To be sure, Goldman has skill in trading. However, the fact remains that they should be out of business. Their business model failed. Taxpayers rescued them. They still owe taxpayer's at least 13 billion. They are risking another collapse.

    http://www.nytimes.com/2009/07/15/bu...oldman.html?em
    As well as receiving federal assistance last fall under the government’s Troubled Asset Relief Program, Goldman, along with other banks, has benefited from a government program that allows it to issue debt cheaply with the backing of the Federal Deposit Insurance Corporation. In addition, it received money from the government’s bailout of the American International Group, being paid 100 cents on the dollar for its $13 billion counterparty exposure to the insurer.

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by AndrewC View Post
    No, they aren't completely paying taxpayers back. They received 13 billion in taxpayer money from AIG. They aren't paying that back.

    Furthermore, they are taking huge risks to make this profit. If that risk turns sour. It will be the taxpayer that will take the loss, not Goldman. Many in the industry are voicing concern for Goldman. The few banks that have tried to follow Goldman's risky investing have been smashed by losses. To be sure, Goldman has skill in trading. However, the fact remains that they should be out of business. Their business model failed. Taxpayers rescued them. They still owe taxpayer's at least 13 billion. They are risking another collapse.

    http://www.nytimes.com/2009/07/15/bu...oldman.html?em
    You make very good points, but had we allowed Sachs to go under, there would have been another chain reaction of bank downward spirals, as Sachs has integration with many banking firms, as well as brokerage houses. I never asserted that it was ideal to save them, nor savory to the people. But if in doing so the country can avoid further recession, then it may have been worth it.

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    Re: Goldman Sachs sees bumper profit

    Why is sachs the only company to make a profit? What about the others?

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by tlmorg02 View Post
    BBC NEWS | Business | Goldman Sachs sees bumper profit



    Looks like all of the Republican assertions of Socialism and meaningless bailouts prove to be BS. Goldman Sachs is profitable now and even paying back the government. I would think that a socialist dictator would not allow a nationalized company to pay back the loans and become private again. Thoughts?



    Awesome. So when will Obama give back that control aspect the government took?
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by Reverend_Hellh0und View Post
    Awesome. So when will Obama give back that control aspect the government took?
    When the money is repaid. Actually, from the article, they already have it back, as they are scheduling bonuses for top performers. This was their reason for beginning to pay back the loans. This allows them to give the bonuses, that those under government control cannot give.

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by tlmorg02 View Post
    When the money is repaid. Actually, from the article, they already have it back, as they are scheduling bonuses for top performers. This was their reason for beginning to pay back the loans. This allows them to give the bonuses, that those under government control cannot give.




    Actually, the Government still owns, market assets that they can call on any time, still in control.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by Reverend_Hellh0und View Post
    Actually, the Government still owns, market assets that they can call on any time, still in control.
    There not going to keep it. Rev, I didn't take you for the conspiracy theorist type.

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by tlmorg02 View Post
    There not going to keep it. Rev, I didn't take you for the conspiracy theorist type.



    It's not a conspiracy, if the Government own calls or whatever, why would they cash it in now?

    Its not a conspiracy now is it?
    Let evil swiftly befall those who have wrongly condemned us

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