Goldman Sachs Poised To Earn Record Profits

bloomberg.com:

July 10 (Bloomberg) -- Goldman Sachs Group Inc. is poised to report the largest profit since it set earnings records in 2007, marking the return of a business model that was the envy of Wall Street before the financial crisis devastated competitors and spurred a government bailout.

Read the whole story: bloomberg.com

Comments

[themodernleader]

What is the government's business guarateeing 30 billion dollars of Goldman Sahs debt? Such outrageously favoritism of the financial institution over every other organizatiojn and function of our country is at the very least malefeasance. The Obama economic members are making long range decisions that are endangering the existence of our form of government.
I would respectively ask the President this legitimate and pressing question: "What is the name of a new government that promises a new deal for the American people, yet follows the same dismal course---f­reneticall­y--- as the previous corrupt, incompetent administration?" Allow me to furnish an inverse clue: "It ain't a democracy".
This weekend I traveled to a once booming technological center of a large city. The people I met were well informed of the double-cross of the Obama promise to be a standard bearer of the people. And they were as confused about his betrayal as am I. I must confess that I did'nt talk to any of the underclass citizens that are of that element terrorizing the city with a crime wave of burglary (home invasions), robbery, murder and holdoutsand assaults. Nevertheless, I was impressed with the awesome awareness, chagrin and cognizanance of ordinary people of all ages.
The Obama Administration is in mortal danger of stillbirth for placing our country in mortal peril of collapse and chaos.

[Lest We Forget]

Is it no wonder, when their former employees permeate the Gov't, rigging the system to Goldman-Sachs'
benefit, with no oversight at all?

Gov't by the BANKSTERS for the BANKSTERS!!!

[WIpatriot]

So, is their forecast still on track even with their "doomsday code" stolen??

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aFeyqdzYcizc

[RobertHenryEller]

In case you missed it:

"The Great American Bubble Machine" by Matt Taibbi:

http://www.scribd.com/doc/16752803/The-Great-American-Bubble-Machine

http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine

[grateful4thedead]

Can't wait to see the goldman quarterly profits and how well they did using our taxpayer money in the world's largest gambling casino.

we WILL be watching the pricing of all of those warrants.

[Uptick]

It’s easy to make profits when the losses are transferred to the tax payers. What a scam.

[SF13]

Why can they keep doing tihs? What about the financial reform?

[Emerald1943]

Well, here we go again! Is there nothing that can stop these guys???

[marijam]

Take your money out of your 401k, and put that money into CDs, Treasury bonds or savings bonds. Let the big guys fight over their money, don't give them yours. Open an IRA at your local bank and use these instruments for your investments.

[doctordawg]

WTF? Really. WTF? There's no mystery here, except why these furkers are still walking free.

[WIpatriot]

That's not a mystery, either, doc...they run the show.

[PhilipTaylor]

"This year, Goldman's traders did a brisk business handling trades for clients who were bullish on the subprime-m­ortgage-se­curities market.

At the same time, they used Goldman's money to bet that that market would fall."

http://www.elitetrader.com/vb/showthread.php?threadid=112147

This PROVES G0LDMAN was doing the "Manufactured Insider Trading" to collect on SURE FAIL Derivatives, even against their OWN Clients, but also on a very BROAD scale as well!

[regellner]

I hope they re-invest some of those profits into the future of the company instead of into the wallets of the execs...

Following is a commentary on AIG's woes and one of the causes:

http://www.examiner.com/x-11326-Liberal-Examiner~y2009m7d10-AIG-bonus-payments-create-selfdestructive-atmosphere


Raymond Gellner – National Liberal Examiner at Examiner.com
http://www.examiner.com/x-11326-Liberal-Examiner
__________­__________­__________­__________­__________­________

[PhilipTaylor]

A1G employees managed to cause a loss of 98.4% of the Companies Stock Value!

July 2008 Price $600 and today's price $9.54! They with the help of taxpayers saved 1.6% of the value - credit the Taxpayer for that!

Good Employees they are NOT!

[vagabondvet]

Stock prices are a reflection of speculators' expectations of profits in the future. AIG's profitability was destroyed in 2008 as their investments tanked and liabilities came due. The taxpayer only saved AIG from going into bankruptcy.

[PhilipTaylor]

Ask Chef Martha who did next to nothing (but called Insider Trading) compared to the $Trillion Insider Trading Scams these Banksters committed yet she served years! The laws are still On The Books today!

It is Felony Fraud that G0LDMAN, Wall Street, and A1G committed:

Thanks to the Morgan Stanley and A1G evidence yesterday and G0LDMAN today this argument is even more relevant:

Their is MASSIVE Evidence the Scheme used was premeditated and therefore HIGH CR!MES were committed!

This was not WELL EDUCATED MEN (mostly) making mistakes except one - They thought they would get away with it! To assume that Masters and PhD level managers simply made some mistakes is naive and irrational.

TWO SIMPLE CHARGES:

1. Premeditated Manufactured Insider Trading
a. Make a lot of Sure Fail Product knowing it will fail
b. Buy Massive A1G Credit Default Swaps which is Betting the SURE FAIL Products will fail!
Make it to fail and then bet it will fail: "Manufactured Insider Trading" 100% sure BET!

2. Misrepresentation of Hugh Risk "FAKE Rated" products as Safe Low Risk "AAA" and sold to victims all over the world!

Both Cr!mes are Felony Fraud and are well documented! They provide evidence for decade or longer terms in Pr!son!

[PhilipTaylor]

Facts:

1. Creation of Sure Fail Derivatives from Sure Fail TRICK&TRAP Mortgages - Proven with Foreclosures and Derivative Failures

2. A1G Credit Default Swaps that allowed Casino Bets that the above Derivatives would Fail - Prove with massive payoffs to G0LDMAN and others through A1G using taxpayer Money - G0LDMAN got over $13 Billion using this method!

3. The Misrepresentation in the sale of High Risk Garbage as Fake "AAA" rates T-Bill quality low risk investments - Proven millions of times over but Iceland's Bankruptcy is a glaring example!

[funkalicious]

Exactly, the real crime is the felching done by the FED and congress to provide the thieves with full access to our treasury. None of the derivatives were ever written with any guarantee by the people all of this crap was manufactured in a shadow banking system.

Government jerks handed our money to bankers in a henny penny the sky is falling knock kneed bums rush to judgment.

The Bankers should be jailed and the offending companies dismantled and sold off. In stead Geithner, Paulson, Bush and now Obama. have ensured the virtual enslavement of the middle class to the Plutocrats who run i-banks. With debts that place the real tax payers in America at about 2.8 million. therefore Only the Mega rich are not bankrupt. The merely well off are toast.

[carefulskeptic]

Shameful

[jsgaetano]

Well of course this is going on. All the "Fiscal Conservatives" are in their dreamland scenario of being able to gamble like there's no tomorrow and all their losses are covered by the Federal Reserve.

Privatize Profits and Socialize Risk- that's the way of the Fiscal Conservative.

[vagabondvet]

Not only did Obama strongly support the banker bailouts, he hired the Fed Governor responsible for the AIG bailout debacle as his Secretary Treasury. And you blame problems on "fiscal conservatives?" Risk can only be socialized if a social mechanism is created to bundle the losses, which is something the government and Fed did.

[jsgaetano]

Yes, of course I blame Fiscal Conservatives. And Obama and the tools working for him ARE Fiscal Conservatives.

[maddy48]

Go read Jason Linkins piece on "rebranding" @ GS. Good question all around: Who is going to buy this CRAP? Still some speculators out there of course but clients will be asking questions re investments via GS. If you say you will show record profits does that make it so? Who's buying their numbers & big ideas now? Just wondering.