Goldman Sachs Likely To Post Huge Profits, Analysts Say

New York Times:

Most of Wall Street, and America, is still waiting for an economic recovery. Then there is Goldman Sachs.

Up and down Wall Street, analysts and traders are buzzing that Goldman, which only recently paid back its government bailout money, will report blowout profits from trading on Tuesday.

Read the whole story: New York Times

Comments

[PhilipTaylor]

This is truly an amazing assestment of a company with $47.7 Trillion in TOXIC DERIVATIVES hidden "OFF-Balance-Sheet" (ENR0N L00PHOLE) as reported by the Office of the Comptroller of the Currency.

I suppose someone who ignores "Mark-to-Market" and "OFF-Balance-Sheet" items would think G0LDMAN is in having the time of its life using their automated MARKET(S) Manipulation Software that Ph.D.'s with a bent on pushing the boundaries on CR1ME developed!

Re: ST0LEN S0FTWARE: "The bank (Goldman) has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate the market in unfair ways." Regarding stolen software G0LDMAN developed!

Isn't this the MOST AM@ZING ADM1SS1ON in a c0urt of l@w?

Gr0unds for ........?

[azdisabledsci]

Boycott Wall Steet & all the major banks.

[AngieMom57]

How? and Who?

[retreadite]

From John Crudele @ NY Post:
"Federal prosecutors accused a guy named Sergey Aleynikov of stealing proprietary "black box" computer codes from Goldman. The agent in charge of the case said the following in court: "The bank (Goldman) has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate the market in unfair ways." What was Goldman doing with a program that could "manipulate the market in unfair ways"?

The answer: It was using it to manipulate the market"

[Zia]

Hey its my money!

[PhilipTaylor]

WILBUR ROSS, one of the Big Names on Wall Street said last Monday on CNBC,

"We are seeing the largest transfer of private Debt to the Government in History and it will take many years!"

That means it is also the largest transfer of wealth from the People/Government to the Banks!

CLOSE THE FR1GGEN Wall Street Banks before they Bankrupt America with their $700 Trillion in Toxic W@ste!

When did it sound like a good idea to have “OFF-BALANCE-SHEET” accounting? Wasn’t this an invention by the ENR0N Accountants Arthur Anderson to hide the corrupt practices of ENR0N? Why is the ENR0N L00PHOLE still legal? AND Why is Wall Street is still using it to hide their FAKE ACCONTING?

A Federal Agency in our Government, the Office of the Comptroller of the Currency, OCC, issues a quarterly Report that has the following info:

1 JPMORGAN C $81 TRILLION in Toxic Derivatives
2 BANK OF AM $78 TRILLION
3 GOLDMAN SA $48 TRILLION
4 MORGAN STA $39 TRILLION
5 CITIGROUP $32 TRILLION
6 WELLS FARG $5 TRILLION
7 HSBC NORTH $3.4 TRILLION
8 TAUNUS COR $1.2 TRILLION
9 BANK OF NE $1.1 TRILLION
10 STATE STR $600 Billion
11 BARCLAYS $400 Billion

The leader by a large margin per employee is G0LDMAN $47.7 Trillion =$1.7 Billion/Employee!

Why Geithner, Head of the Treasury and previously NY FED President, did not see this report is a mystery! Like the Tax thing he simply forgot?

[PhilipTaylor]

Why any citizen would have anything to do with any of these banks is beyond comprehension.

[RJII]

that's what I don't understand. maybe nobody is dealing with these louses and the bulk of their revenue is our bailout money

[Rule Of Law]

Philip, do you have a link for this incredible information???

Thanks, Rule

[PhilipTaylor]

Office of Comptroller of the Currency Quarterly Report! Google it!

Scroll down about 10 pages and it is in a table!

[PhilipTaylor]

http://www.occ.gov/ftp/release/2009-72a.pdf

It is on page 23!

[Coastalthinker2]

Philip...thanks for the link. Great information.

[rollingdivision]

As Obama indented, Wall Street is paying itself fantastically well again, thank heavens, after being rescued with taxpayer money.

[spinns17]

i think bush and paulson did it .

[Rule Of Law]

You think? You don't know...?

Do you know that this administration has given trillions to the banks, too?

[spinns17]

http://www.heritage.org/Research/Economy/wm2131.cfm

[spinns17]

http://www.heritage.org/research/economy/housingandfinancialmarkets/

see what they have to say

[AngieMom57]

Bastille Day tomorrow! "Let them eat cake"

[kappa08]

I have been down with that for a while....why we fight for a country that is completely Autocratic is beyond me....

[gypsy508]

It helps to have your people in influential positions in the White House. The oil people are gone. Meet the new beneficiaries.

[IndieBlue]

Goldman has always been a beneficiary. Just ask form Goldman CEO Henry Paulson, Jr.

[einstein10]

Just so happens that the Chairman of Goldman Sachs International, Peter D. Sutherlland, is ALSO the Chairman of BP (British Petroleum).

Who's calling the shots?

[AngieMom57]

Follow the Golden Brick Road :-)

[Dubois651]

Crony capitalism at its best.

Still, there is a populist revolution taking place in the American Republic. I truly believe the end result to be a more direct form of democracy. The oligarchs stand alone in enjoying their stolen treasure, but the people once awaken have the power to take back those stolen tax payer dollars. I can't wait until the passage of the HR1207. Won't be long before the bill comes before Congress.

The main problem isn't the individual oligarchs, but the Fed bank that contiues to produce and promote the sort of crony capitalism that keeps producing these economic terrorists. Let's Audit the Fed, and track down the banksters too.

[Sam1234567]

Uh, have you lived under a rock lately? Timmay used to work for Goldman. Your dem's are knee deep in making GS alot of money.

[Dubois651]

I have to correct you there, they are not my Democrats or Republicans, they are controlled by the oligarchs.

I'm an Independent thinker. You are correct that Timothy Geitner is a former Goldman Sachs employee and I never supported his appointment, as he is a tax cheat. If you read my post, you'd have realized that I believe the problem is the entire leadership.

My believe is that the audit of the fed is going to reveal nearly 100 years of Fed fraud.

[Rule Of Law]

Geithner never worked for Goldman.

He has worked for Kissinger, Rubin and Summers and the Council on Foreign Relations, all before heading the NY Federal Reserve, but has never been employed by GS.

The fact that everything he does accrues to Goldman's good fortune is just coincidence--wink wink...

[Rule Of Law]

The former SOT Henry Paulson, did head Goldman before taking the job as Treasurer. He was very helpful in driving Lehman out of business to help his old company.

[brightlights3]

Maybe, my post will show up here, since NYT has taken it down three times already. It seems that they can easily criticize but can not take criticism. Where has journalistic integrity gone? They just want to feed us our thoughts and not have us question. Here's what I posted that was apparently so objectionable as not to be included.

$600,000 per employee? Are you telling me that the janitor at Goldman makes $600,000 a year? I find articles like these very disingenous and I guess I am not surprised anymore that NYT even engages in this type of demonizing reporting to get everyone on the bandwagon for the lynching. We always have to have a bad guy out there and when everyone is down and out, the one who is doing well must be evil b/c it couldn't be possible that they have clean hands in making their gains. Don't get me wrong, I'm sure Goldman has their share of skeletons but I don't know what this type of reporting accomplishes, except getting people upset. But maybe that's what NYT wants to do b/c we don't have enough to be mad about in this world already.”

[CypressTree]

You think the Times article was intended to make people upset???
Quite the contrary: Lee Norfolk makes some excellent points: "No analysis of where the alleged profits are coming from? No accounting for the missing month when they changed their fiscal year? How are they making so much money in this economy? How much has this company cost taxpayers? A negative mention of Taibbi's article, but not one sentence that refutes any of it? Does the reporter own GS shares?"

[brightlights3]

What did this article accomplish? The quarterly profits haven't been posted yet and they report this speculation, stir up controversy and get people upset, which was clearly the result as one can read from the comments here and the one on NYTimes site. It has quelled up quite a bit of resentment. Agreed, substance in the article was definitely lacking but the tone was definitely to sensationalize and demonize.

[viper234]

Is anyone really surprised by this? What surprises me is that the vast majority of Americans supported all those bailouts to the financial sector but now that the big market makers are making mega profits again while most Americans are struggling, everyone's suddenly seeing the government's Ponzi scheme for what it really is.

[CypressTree]

The absolute theft of the century. Oh well, are there any good Michael Jackson articles written today?

[MadDemocrat]

Good for them! That's why they do so well, they know how to manage their business according to the principles of capitalism. They do a great job over there. Stop being so jealous of the rich, it's unhealthy. Instead of sitting around waiting with your hand out, get a 2nd, 3rd or even 4th job to make ends meet and succeed. Or take the risk and get an SBA backed bank loan and start a new business. That way you can contribute to the economy too and hire people and provide them with health insurance and retirement benefits while you wait and see if you can get a paycheck. It's fun, try it!

[viperhawk2k4]

Must be a relative of a BANKSTER

[robertml1]

Folks here are clueless and biiter. Goldman hasn't done anthing illegal, they're just better at playing the game. Get out, get jobs and stop sitting around posting on blogs and whining.

[AngieMom57]

Got some GS holdings do ya?

[IndieBlue]

It's easy to not break the rules when your former execs are writing them...

[LHoney]

You may have missed it in the news, but there aren't any jobs...

[Dubois651]

It is easy to make all that money when you have a direct account with the Federal Reserve and fil the ranks of the U.S. Treasury with your cronies. True, they haven't done anything illegal, but there are plenty of immoral and unlawful activities taking place at Goldman Sachs.