• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Goldman Sachs sees bumper profit

So why isn't this working at General Motors?
 
Erod said:
So why isn't this working at General Motors?
Click to expand...

What are you talking about? GM just came out of chapter 11 after 40 days. Give it some time. This morning I saw a new Chevy commercial for their crossover that now gets 32mpg, that is better than the Ford Edge hybrid. So, there is already progress in the fuel efficiency standard.
 
tlmorg02 said:
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?
Click to expand...

Goldman Sachs has huge ties with many government officals and much of the "bailout" and current profits are shady at best. Look at the ties with Goldman and look at who were given and who were denied bailout money.

Isnt it kinda funny that a company that owes GS a large amount of money (AIG) are given a large bailout while competitors of GS are denied. AIG after recieveing 65B can then make its payment of 16B to GS.
 
AndrewC said:
No, they aren't completely paying taxpayers back. They received 13 billion in taxpayer money from AIG. They aren't paying that back.
Click to expand...

And if AIG had collapsed, their hedges would have kicked in and they would have received that money anyways.

The government bailout of AIG did not have a material effect on Goldman's balance sheet, regardless of what you may have heard.

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.
Click to expand...

Link?

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.
Click to expand...

This is pretty much wrong from beginning to end, except for where you note that they have skill in trading.

tlmorg02 said:
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.
Click to expand...

They weren't going to go under.

DarkWizard12 said:
Why is sachs the only company to make a profit? What about the others?
Click to expand...

The rest are making profits now or will make them in the near future, GS is just quicker on its feet and scooped up more of the leftovers.

Reverend_Hellh0und said:
Actually, the Government still owns, market assets that they can call on any time, still in control.
Click to expand...

Link?
 
You must log in or register to reply here.
Back
Top Bottom