Goldman Sachs follows Wed. example from JPMorgan Chase and reported better-than-expected results

[steven johnson]

Source: BBC

Goldman Sachs paid back its emergency government loan in July. Goldman Sachs has followed Wednesday's example from JPMorgan Chase and reported better-than-expected results.

Net earnings for the three months to 25 September were $3.19bn (£1.96bn), compared with $845m in the same time in 2008, just before the Lehman collapse.

It has set aside $5.35bn to cover pay and bonuses for the quarter. The remuneration figure is up from $2.9bn in the same period last year, but down from $6.65bn in the previous quarter.

It brings the total for the first nine months of this year to $16.7bn. It means that the bank's 31,000 employees will make an average of $172,581 for the three-month period.



Read more: http://news.bbc.co.uk/2/hi/business/8308816.stm

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It's nice to know that the recession is over and the bubble is being inflated again.

[MannyGoldstein]

1. But All Of The New Financial Services Regulations Will Prevent Another Problem

Why, just since the meltdown, we've enacted zero new regulations!

[AllentownJake]

2. If only every American Corporation

Could conspire with government officials and rogue traders to successfully kill off your two biggest competitors. Than use the same government connections to ensure that the money owed to you by a bankrupt corporation is paid $ for $. Than get a low interest loan to place in the markets you manipulate for a huge profits than use those huge profits to buy the next administration to ensure that you aren't prosecuted or have your questionable business behavior regulated.

See folks that is the secret to success.

[FailureToCommunicate]

5. Very well put!

[mule_train]

9. any tech worker can tell you, it's not what you do, but who's for or against you

and the referee in on K street

you can do everything 'they' say 'you're supposed to do', and it works until someone powerfull decides they want you to lose

[paparush]

3. Meanwhile - Foreclosures continue to rise, Unemployment continues to rise

No meaningful regulations have been enacted (my brand new refinanced mortgage with BOA was sold to Freddie Mac in less than a month).

C'mon common men and women, aren't you PISSED OFF?

[FailureToCommunicate]

4. "...better-than-expected results" ???!? Sure, they couldn't EXPECT Congress and the Fed to

roll over and want their tummy rubbed,but they did.
And we are left to pick up the poop...

[tomm2thumbs]

6. Welcome to Las Vegas!

[mule_train]

7. Workers bail out banks, bankers boast 'profits', workers twist in wind

bet the average American is wishing they'd voted democrat

oops.....uh, never mind

[mule_train]

8. At least one Democrat, Charles Grassly put a restriction against laying off American workers in TARP

money

oops...never mind again

was sponsored by

Charles Grassley (R-IA)

Bernie Sanders (Independent/Socialist-VT)

anyone else notice a party conspicuously absent here?

http://www.computerworld.com/s/article/9127552/Senate_approves_strict_rules_on_hiring_H_1B_workers

[OhioChick]

10. "wishing they'd voted democrat"

Seems you can't tell the parties apart these days.

[mule_train]

11. people used to gripe about the stereotype of 'welfare queens' driving Cadillacs

at least they didnt boast about PROFITS!!!!

if you could bring egyptian pharaohs back to life, they would be in awe of wall street arrogance