The United States of American has seen nothing but eight years of reduction in taxes and rampant unemployment while the Wealth Merchant of Wall Street reap huge and disproportionate profits.
We have a record National Debt in this country of which MOST of it was 'generated' during the years 2001-2009.
Goldman Sachs Posts Record Profit on Bonus Pool Cuts (Update1) (click here)
January 21, 2010, 08:56 AM EST(Adds revenue figures in the eighth paragraph.)
By Christine Harper
Jan. 21 (Bloomberg) -- Goldman Sachs Group Inc., the most profitable securities firm in Wall Street history, reported record earnings that beat analysts’ estimates as the bank slashed its bonus pool.
Now, Goldman-Sachs' CEO has met God.Thank you, President Obama for showing Wall Street how to ACTUALLY show a profit and balance books.
Net income of $4.95 billion, or $8.20 per share, for the three months ended Dec. 31 compared with a loss of $2.12 billion, or $4.97 per share, for the same period in 2008, when the fiscal year ended in November, the New York-based company said today in a statement. The average estimate of 21 analysts surveyed by Bloomberg was for $5.18 a share.
Goldman Sachs, under Chairman and Chief Executive Officer Lloyd Blankfein, relied on gains from trading and investments with the firm’s own money to help it recover last year from the worst financial crisis since the Great Depression. Blankfein made up for a slowdown in trading revenue in the fourth quarter by taking back money the bank had set aside for pay earlier in the year, resulting in the lowest percentage of compensation to revenue since Goldman Sachs went public in 1999....
Now that Goldman has double dipped into the nation's treasury, it is time the Working Class and Middle Class kick started their economy.I would expect Wall Street to behave itself from now on, especially in the light of pending regulation.
Now, you'll excuse the rest of the nation while we close the book on the Exploitative and Carpet Bagging Bush Years.
