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Thread: Goldman Sachs sees bumper profit

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by Reverend_Hellh0und View Post
    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?
    I don't understand what your asking here. There are already ten banks, including JP Morgan Chase, that have repaid loans and the government has rescinded it's authority. Why would it not do so with Sachs?

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by tlmorg02 View Post
    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?
    Does this include the missing month? Goldman redid their fiscal year and made their worst month (December) disappear.

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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?
    goldman sachs decided to return the money when the Govt started taking an active part in running companies, you know, limiting bonuses etc....

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    Quote Originally Posted by jallman View Post
    How the hell did you just tie in a retroactive reparative measure with a proactive preventative measure. Not even close to being the same thing.

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by celticlord View Post
    Does this include the missing month? Goldman redid their fiscal year and made their worst month (December) disappear.
    Here's what the article says:

    Six months ago, Goldman reported its first quarterly loss since going public in 1999, after being battered by the economic crisis.

    But it then surprised Wall Street by reporting a $1.8bn profit for the first three months of the year, despite the financial crisis.

    And the bank said it had benefitted from higher volumes of trading in shares, while seeing record revenues from currency and commodities trading during the second quarter.

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by tlmorg02 View Post
    I don't understand what your asking here. There are already ten banks, including JP Morgan Chase, that have repaid loans and the government has rescinded it's authority. Why would it not do so with Sachs?



    I gotta find it, I was watching the news last night and they were talking about that just being paid back does not change the game now.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Goldman Sachs sees bumper profit

    So why isn't this working at General Motors?

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by Erod View Post
    So why isn't this working at General Motors?
    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.

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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?
    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.

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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by Erod View Post
    So why isn't this working at General Motors?
    Goldman Sachs makes their clients money
    GM makes a ****ty product

    Human Taxidermist - - now offering his services for all your loved ones
    Quote Originally Posted by jallman View Post
    How the hell did you just tie in a retroactive reparative measure with a proactive preventative measure. Not even close to being the same thing.

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

    Quote Originally Posted by tlmorg02 View Post
    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.
    They weren't going to go under.

    Quote Originally Posted by DarkWizard12 View Post
    Why is sachs the only company to make a profit? What about the others?
    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.

    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.
    Link?
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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