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What Bailout? Goldman Sachs Back In the Money
July 13, 2009 10:47 AM
Well, that didn't take long. Are the 'happy days here again'? The New York Times and others are reporting this morning that Goldman Sachs, long the envy of Wall Street, is about to announce that it is very much back in the business of turning profits. Big profits. It's expected the bank will announce tomorrow that it made $2 billion between March and June of this year. Goldman has just returned the taxpayer bailout money aimed at getting the big banks stabilized. The Times says that the bank is expected to hand out $18 billion in compensation this year.
July 13, 2009 | Permalink | Share | User Comments (3)
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Goldman Sachs are more responsible for this economic mess than I could ever articulate in this blog. I hope ABC is not going to hold them up as some kind of shinning example of whats right about Wall Street.
Posted by: Marty | Jul 13, 2009 2:01:34 PM
Big surprise. Hank Paulsen, Bush's Treasury Secretary, is a former Goldman Sacs CEO. People forget that it was the great deregulator himself Paulsen who started Tarp and that there was no way Goldman Sacs was going to be one of the fatalities of the recession.
Yes, Republicans like to point to F & F as the catalyst for this recession, while the truth is those lenders were far from the first to indulge in the formerly illegal activities of sub-prime mortgages and credit default swaps. It was the bill written and shoved through almost clandestinely by Phil Gramms that opened the door for all of these slime-ridden practices.
Posted by: Igor | Jul 13, 2009 2:46:27 PM
I think the white house should put up a tote board like they do for muscular dystrophe, to show how much of the tarp money is being paid back this quick by the banks and G.M. and to let the public see that this plan has worked in some cases really quickly.The republicans want to constantly talk about the debt that this is creating but not about the sucess.If I am not wrong the return of these loans mean that that part of the trillions in debt they complain about will never occur.
Posted by: Danny | Jul 13, 2009 9:21:50 PM
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