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?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).