Goldman Sachs To Repay TARP Funds As 1Q Profit Surges!

Maybe Goldman Sachs does run the U.S Government after all!

How much a Goldman Sachs and its brethren profit off their positions as Fed insiders, stockholders and, as with Goldman, whose "former" personel serving as the Secretaries of the Treasury" is unknown. This is largely because we are kept from looking, and the private Fed is exempt from the Freedom Of Information Act.

Clearly, they have us coming and going and the potential for profiteering thru inside information and policy-making influence is enormous. This corruption and profiteering can also easily escape detection via partners in foreign markets where oversight is missing, and political influence is all-powerful.

www.goldmansachs666.com...
[yvid][/yvid]

Goldman Sachs Group Inc. (GS) sent a clear signal to Washington on Monday: It's more than ready to pay back taxpayers.
The investment bank delivered first-quarter earnings that sailed past even the most optimistic predictions and plans to raise $5 billion in stock to help pay back government bailout funds. It would become the first big U.S. bank to repay federal loans extended last autumn at the height of the credit crisis.

For Chief Executive Lloyd Blankfein, posting robust results was needed to help convince Washington that the New York-based investment bank was on a strong footing. The bank plans to repay the $10 billion of federal loans as soon as the government approves.

One of the biggest reasons for Blankfein to quickly repay the money is to avoid any restrictions placed on it by the government, such as limits on executive pay. The bank has also likely received concerns from clients about being under the government's thumb. .....
......Until recently, Goldman had been known as having a magic touch after a correct bet that subprime mortgages would crater and its avoidance of other messes. But Goldman is facing danger from its heavy exposure to stock markets, which have been extremely volatile in recent months, and its "book" of so-called distressed investments, which includes everything from troubled auto loans in Thailand to struggling golf courses in Japan.

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Related thread: Golman Sachs Hires Lawyer to Shut Bloggers Site:
www.abovetopsecret.com...


[edit on 13-4-2009 by burntheships]

Its amazing what a couple of people who are actually intelligent can do with a company that has such awesome reach and power. It didnt take them long to turn their hopeless losses and dim futures into whirlwind profits.

I am glad that they can pay back billions in government bailout loans. I could care less what they pay their execs, as long as they arent doing it with government borrowed, bogus money created out of thin air. Thats $10 billion dollars worth of air that the Fed can bottle back up and get off the accounting books. Lets see, hand the non-existant money to Rufio so that he and Pan can take it back and have the Lost Boys remove the debt from the Super Secret Gotcha-No-GotchaBack books.

I salute them for any disclosure and payback, honest or not.

Goldman has sold $5billion in stock in saying it is thier "duty" to repay TARP funds. Maily, they are doing to this to get out from under the govenment restrictions.

Goldman Sachs is just so "lucky"! A conspiracy theorist might think this run of fortune has something to do with the former Goldman executives having influential roles in the Treasury Department.

Goldman Sachs Group Inc sold $5 billion of stock to help fulfill what it called its "duty" to repay a federal bailout, but the government worries a quick return of funds could pressure other banks to repay their aid prematurely.

www.reuters.com...

Do you all realize that if Goldman repays the TARP monies...
they are then allowed to become a unregulated 'Investment Bank' once again...

the reason they became a Bank Holding Company was to get ahold of the TARP funds and the special bailouts afforded Banks which had toxic assets which needed to be collateralized...

it seems that the derivatives they still hold are worth a lot more than they have been poor-mouthing about... & that's the reason Goldman is trying
to disengage from the gov't... so they don't have to be governed by guidelines on bonuses, profits, frozen credit markets or have to Stress-Test their 'balance sheets' (public & /or private ones) that are subject to the overly-creative financial status reports...


~+~

reply to post by St Udio


Yes exactly! Thanks for adding to the compilation of info. I have posted so many threads on Goldman Sachs...hard to get it all down in one thread.

Adding to your studious input...

Bush budgeting lives — at Goldman Sachs
Wow. Just wow. Floyd Norris, via Barry Ritholtz, tells us that Goldman’s good numbers have a lot to do with a magic trick: they made December disappear! It’s an “orphan” month!

This is Bush-style budgeting, with sunsets and all that which made the true costs of policies disappear, but this time applied to the private sector. Add to this the questions about reported profits at other financial institutions, and you get the feeling that what we’re seeing isn’t so much green shoots as smoke and mirrors.

krugman.blogs.nytimes.com...