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Posted on July 13, 2009 | tags

 
 

Biz: At Goldman Sachs, profits are huge, yet inexplicable

  • -$2.12 billion amount Goldman Sachs lost in a single quarter last fall, when they needed bailout help from the government
  • +$2 billion anticipated amount that analysts expect them to make when they announce quarterly results tomorrow; uh, wow source

Posted by Ernie Smith • Permalink


 
  • Daniel

    Okay, I understand the employees of the bank need to be paid. But dare I say the millions of dollars being put toward employee compensation is a little irresponsible when considering they’re not even out of the red yet? It sounds like they probably haven’t even paid back everything they owe to the government. Now, this wouldn’t be as much of an issue if it didn’t mean they’d continue accruing interest on the outstanding debt. They’re effectively living beyond their means.

    Speaking about the return, ABC News puts it thus, “It’s a bit worrisome because in this marketplace we realize that profits of that sort require large risk which have been taken.” (quoted from http://www.newsy.com/videos/as_good_as_goldman)

  • Daniel

    Okay, I understand the employees of the bank need to be paid. But dare I say the millions of dollars being put toward employee compensation is a little irresponsible when considering they’re not even out of the red yet? It sounds like they probably haven’t even paid back everything they owe to the government. Now, this wouldn’t be as much of an issue if it didn’t mean they’d continue accruing interest on the outstanding debt. They’re effectively living beyond their means.

    Speaking about the return, ABC News puts it thus, “It’s a bit worrisome because in this marketplace we realize that profits of that sort require large risk which have been taken.” (quoted from http://www.newsy.com/videos/as_good_as_goldman)

  • Daniel

    Okay, I understand the employees of the bank need to be paid. But dare I say the millions of dollars being put toward employee compensation is a little irresponsible when considering they’re not even out of the red yet? It sounds like they probably haven’t even paid back everything they owe to the government. Now, this wouldn’t be as much of an issue if it didn’t mean they’d continue accruing interest on the outstanding debt. They’re effectively living beyond their means.

    Speaking about the return, ABC News puts it thus, “It’s a bit worrisome because in this marketplace we realize that profits of that sort require large risk which have been taken.” (quoted from http://www.newsy.com/videos/as_good_as_goldman)

 

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