Goldman To Report $2 Billion Loss For Q4 , WSJ Says

Reuters:

NEW YORK (Reuters) - Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) shares fell Tuesday on speculation the bank's fourth-quarter loss could be much larger than expected -- as much as $2 billion -- fueled by the plunging value of many Goldman investments.

In premarket trading, the shares slipped more than 4 percent to $63 from a Monday close at $65.76. They are down 69 percent this year.

Goldman is widely expected to post its first quarterly loss as a public company. The Wall Street Journal, citing unnamed "industry insiders," reported on Tuesday the red ink could total $5 a share.

Read the whole story: Reuters

Comments

[Transcendentobserver]

HHHMMM???? Goldman Sachs: The institutional product of the collective economic wisdom of Voelker, Greenspan and Poulson, the beneficiary of billions of dollars in Federal largess, a stock brokerage whose stock in trade was securities speculation, and recently made a real "bank" (as opposed to an "investment bank") by declaration of Chairman Bernanke with capital underpinnings based on "whatever it takes' but subject to his "regulatio­n???"..... Naw....can't be true!

Oh yeah! by contemporary regulation, IRS allows loss tax write-off against future "profits". Now it makes sense! Goldman can even capitalize the losses.

[Fabini]

This is true. I used to be an administrator in academia. My area was scholarships. I advised students to follow their hearts, but also to take one term as an internship at Goldman Sachs.

Okay, maybe I was wrong. Drama club and ultimate frisbee may be the way to go now.

[darthdarcy]

Only $2 billion they must be low balling it...!

Maybe that's why Gov. Corzine met with Obama yesterday...ya think..?

[ProfessorDuh]

Easy come, easy go.