Big Money for Goldman Sachs
Fresh off the bailout, Goldman Sachs raked in $3.44 billion in net profit this quarter, beating analysts' already high expectations, and the firm's success will pay off for employees in the form of generous bonuses. Not surprisingly, pro-Goldman types think this is all good news.
Fresh off the bailout, Goldman Sachs raked in $3.44 billion in net profit this quarter, beating analysts’ already high expectations, and the firm’s success will pay off for employees in the form of generous bonuses. Not surprisingly, pro-Goldman types think this is all good news.
Your support matters…BBC:
Some have raised questions over whether it is right that a bank make such profits and pay hefty bonuses so soon after receiving government loans.
But analyst William Smith, of Smith Asset Management said: “Goldman should be celebrated, not demonised.”
“Things are very fragile but they manage to make money in all environments, which is what you’re supposed to do,” he added.
Goldman’s chief financial officer David Viniar said: “We are helping the economy to recover”.
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Editorial Cartoons
Editorial Cartoons
Lessons learned from the 2008 financial crisis show that taxpayer-funded blank checks to institutions do nothing to help those struggling
If the president wants the federal government to be able to borrow cheaply, there are far better options than negative interest rates.
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