Goldman Sachs made US$3.46 billion in a quarter

There you have it, the most profitable bank in the world. How could a bank make that kind of money in 3 months? What kind of business is it in? I don't think the most profitable casino can make this kind of money in three months. Must take out my hat to Goldman Sachs. And they too were recipients of public funds during the financial crisis, and nearly collapsed. How could the turnaround be so dramatic? I am very sure they are not doctoring their books. The profit must be real. So where did they make this kind of money? CDOs, hedge funds, stock markets? When they can make this kind of money, someone out there is losing big time. And many broking houses are recommending a buy on Goldman Sachs despite it being sued by the SEC. Who is wiser? It is good to believe that money can be made so easily. All the banks must adopt the Goldman Sachs business model if they want to make this kind of money.


Wally Buffet said...

Those who are "in" the loop knows the ropes.

Anonymous said...

Revaluing the toxic products? After all, they have already collected their insurance money from AIG, courtesy of the American public.