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Thread: Goldman Sachs sees bumper profit

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    Goldman Sachs sees bumper profit

    BBC NEWS | Business | Goldman Sachs sees bumper profit

    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).
    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?

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    Re: Goldman Sachs sees bumper profit

    It wasn't long ago that you all were blaming Bush for the bailout of Wall Street. Now that there's success, Obama did it. Figures.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by American View Post
    It wasn't long ago that you all were blaming Bush for the bailout of Wall Street. Now that there's success, Obama did it. Figures.
    Actually I think it will end up being both, but I still don't agree with the bailouts. I think it is a crap shoot that America can't afford to gamble with.

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    Re: Goldman Sachs sees bumper profit

    Well maybe, I don't general support it either, but everybody was saying you know?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
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    Re: Goldman Sachs sees bumper profit

    Quote Originally Posted by American View Post
    It wasn't long ago that you all were blaming Bush for the bailout of Wall Street. Now that there's success, Obama did it. Figures.
    Both had a hand, and I never criticized Bush for it. Actually, as I reacall, his own party criticized him for it. I think it will work, and he and Obama, were both right. If you keep companies afloat long enough to get through hard times, there is no reason they can't pay you back and go on being profitable.

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    Re: Goldman Sachs sees bumper profit

    Success? For whom? Goldman got paid via AIG. They aren't paying those billions back. They got government guarantees and loans. All in addition to the 10 billion in capital.

    HaHa, all the hard working citizens of this country got screwed. How do you think Goldman made this money? By taking on more risk. Makes sense. Since they own the Fed and Treasury. They know they will always be golden.
    Last edited by AndrewC; 07-14-09 at 02:36 PM.

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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?
    This is a stimulating story indeed !!!!
    I do not recall the Viet Cong asking me if I was a natural born or Naturalized American before they shot at me, they just shot at all of us f107HyperSabr

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    Re: Goldman Sachs sees bumper profit

    *does a little jig*
    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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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?
    Same thing is being reported here, Government wants to give back the banks back to the private sector ASAP and some have paid some of the loan money.
    Last edited by Laila; 07-14-09 at 11:15 PM.


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    Re: Goldman Sachs sees bumper profit

    Is it real profit or fake profit?

    Fake profit in the difference between what the debt outstanding is worth and face value and can be booked as income (if negative).

    No actual money was made. No actual profit at time of disclosure.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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