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

[IndelibleVoice]

Wow, the guys at GS look soooo happy. I remember the middle-class looking like that...

[humanbeing-rick]

Since Goldman-Sachs is one of the only ones making money and keeping their jobs in America, then Goldman-Sachs should devote their ill begotten profits to repairing our country's economy - the one that they helped to destroy. Crony capitalism must end. The revolving door between Goldman Sachs and government positions must end. They had an unfair, and arguable illegal, advantage over the rest of us. We should expect justice, repairment, and repayment.
The rest of us want our jobs back, want our raises and bonuses back, want our homes back, and our health care too. Why should we have to suffer so these financial wizards can profit at our expense?

If the greed continues, we will be getting very angry, and do something about it ourselves, as the constitution tells us to do.

[4peace]

Unfortunately the greed will never end; It is highly encouraged by our illustrious congress - they are the ones that gave these "people" trillions of OUR dollars, that on top of what they had already weaseled out of us. It will never, ever end. Our congress only knows greed, its all about them and their buds, you see. With the exception of a few, Paul, Kucinich, and Feingold, I believe they must all be totally corrupt and black-mailable. Sure, they might go in with good intentions but then they realize they can become filthy rich by allowing lobbyist to control their votes. The system is irreparably broken and we "the people" (hello...r­emember us?) are paying the price. It's not a beautiful day in the neighborhood.

[WeAreTheBorg]

The best description of the stock market I ever read came from a novel I read in the 1970's. (Wish I could remember where. I would credit it.)
A Communist is talking to a Capitalist:
Capitalist: "If you ever own a company, I want to buy stock in it."
Communist: "So, you wish to exploit the workers?!"
Capitalist: "When you buy stock in a company, you aren't exploiting the workers. You're betting on them."
Exactly. Wall Street is a huge casino run by people betting other people's money.

[evekendall]

What is Obama doing about the "too big to fail" problem? Anyone know?

[GlobalCooler]

Making overseas speeches.

[spinns17]

there is five fronts he is working on,.congre­ss ,the republican party ,wall street ,international laws ,and the laws here, that the repubes rewrote .a hard thing to do overnight.

[AtomicMan]

For those wondering why places like GS are posting huge profits but unemployment numbers continue to drop, consider this...

Companies have become used to working with their lightened workforce since many have had to let a lot of their staff go earlier in the year. They're realizing that they can get by on less people, but those less people have to do more work. Those employees who are still working know how tough it is to get a new job if they quit, so they are more than willing to do the work of 2 people with lots of overtime. Such is the case with my company, where we are doing about 75% of the work with 50% of the staff we had in November.

Couple that with the fact that the economy was tanking for about 6-8 months prior to the job market being effected, so we may still have a few months more before things level out - the job market always seems to lag behind the stock market.

[AlmostLiberal]

Brass Balls, Golden Sack

[TXfemmom]

If they can generate such huge profits in this business environment, then they should have to give back to the government all the money they received from AIG, as that is just as much a bailout as TARP money.

One can bet that a good deal of the money Goldman is going to report is going to be due to the increase in oil prices which was manipulated. They bought all this oil at $30 and then ran it up to $60 and more, sold all their oil, further hurt the nation and then smiled, smiled, smiled. Goldman Sachs should be treated like Al Qaeda.

[spinns17]

i agree they should have had to eat the loss from aig.but paulson made it so that they wouldnt have to.

[4peace]

No, they should be put in prison.

[spinns17]

http://apps.nyse.com/commdata/PubInfoMemos.nsf/AllPublishedInfoMemosNyseCom/85256FCB005E19E8852575DF006D4F66/$FILE/Microsoft%20Word%20-%20Document%20in%2009-31.pdf

[GlobalCooler]

Goldman Sachs contributed more money to The Democrats in 2008 than to Republicans. A sad reality within The "Hope & Change" myth. The MSM won't report it and the Libs won't believe it.

[rampage]

I psoted it earlier you dummmwitt. It's a matter of public record.
Also, it was perfectly legal and Obama did not pursue said donations, they merely gave more to the candidate they thought would win.

And as I posted earlier.

No more money in lobbying and public only campaign reform.
Get it done.

[GlobalCooler]

Gomer, I did not see your earlier post as I was not here and I tend to ignore what you write as there is little value in doing so.

Legal or not, the Dems can refuse campaign contributions from Wall Street. After all, the Dems represent the little guy and despise those evil companies. So they say.

[GlobalCooler]

Gomer, the Dems can enact campaign finance reform anytime they want. They have the numbers to do so. They don't even mention it.

[rampage]

Obama:

University of California $1,564,490
Goldman Sachs $994,795
Harvard University $854,017
Microsoft Corp $833,617
Google Inc $803,436
Citigroup Inc $699,790
JPMorgan Chase & Co $695,132
Time Warner $589,334
Sidley Austin LLP $588,598
Stanford University $586,557
National Amusements Inc $550,683
UBS AG $543,219
Wilmerhale Llp $542,618
Skadden, Arps et al $530,839
IBM Corp $527,572
Columbia University $526,802
Morgan Stanley $514,881
General Electric $499,130
Latham & Watkins $493,835
US Governmen

[rampage]

McCain:

Merrill Lynch $373,595
Citigroup Inc $322,051
Morgan Stanley $273,452
Goldman Sachs $230,095
JPMorgan Chase & Co $228,107
US Government $208,379
AT&T Inc $202,438
Wachovia Corp $195,063
Credit Suisse Group $183,353
UBS AG $183,079
Pricewater­houseCoope­rs $167,900
Bank of America $166,026
US Army $165,370
Gibson, Dunn & Crutcher $159,596
Blank Rome LLP $154,226
Greenberg Traurig LLP $146,437
US Dept of Defense $143,605
FedEx Corp $131,974
Lehman Brothers $126,057
Bear Stearns $117,498

[rampage]

obama:

Percent of Funds Number of Contributors Total Amount
Female 42.2% 140066 $145,907,470
Male 57.8% 179639 $199,743,642

[rampage]

Percent of Funds Number of Contributors Total Amount
Female 28.0% 39359 $45,931,705
Male 72.0% 101734 $117,915,120

[GhostofBillHicks]

Seems crime does pay...it pays pretty damn good in the good ol' USA!

[PATina]

Only big time white collar crime.

[rampage]

The stock market is manipulated every second of everyday. It is a ponzi scheme of sorts.
I say this not from a woowoo point of view but from having been an active participant.

I haven't owned or traded a stock or commodity since 2000 and have plans to do so in the future.

[GlobalCooler]

Nice Freudian slip there.

[rampage]

where?

[ShawnHanks]

You are not qualified. Get a good investment advisor or just stuff your dollars under your mattress.

[rampage]

Prove me wrong

[rampage]

`Caveat emptor

[adey]

Or in the case of the resident tro//s, cranial empty.

[adey]

I have compared it to a ponzi scheme as well.

Question-- Why is this bad? I thought that their failure was a bad thing, and would have huge worldwide repercussions. If baiing them out worked, isn't this good news? And if things are stabilizing, doesn' t this free Obama up to regulate it so we don't have another crash? (Reason tells me that regulation can't happen until the problem is fixed,)

[marinade]

Single payer health care reform. Forget about being nice and settling for a public option.

OT, so early in the a.m.

[jdw1981]

Oooh, look, Goldman Sachs turned a profit after manipulating the market and being given humongous taxpayer handouts. That MUST be good for America!

Wall Street and Main Street are separate realities. What's good for Wall Street is seldom good for Main Street at this point in history.

[marinade]

this is propaganda to cheer up the rich folk.....t­he good times are back....ho­oray....

animal spirits and what-not

[smarternu]

Goldman Sachs is the enemy!!!