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Lawsuit, Schmawsuit: Goldman earnings almost DOUBLE.

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posted on Apr, 20 2010 @ 10:22 PM
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Who cares about whatever petty little fines the dweebs at the SEC might or might not slap on Goldman "Vampire Squid" Sachs? After all, earnings are up 91%! Paaar-tay!

Looks like merely earning double-digit profits year after year, decade after decade, and stacking the Fed and Treasury with Goldman alums just ain't enough anymore. I'm guessing the new strategy is simply to acquire ALL the money. Everywhere. Forever.

What do you get the man who has everything? The answer is simple: Everything else!




“This all seems to be at root about whether someone intentionally misled someone, and that’s not something we would approve of or sanction,” Goldman Sachs Co-General Counsel Greg Palm told analysts on a conference call today. He spoke after the firm said earnings jumped 91 percent to $3.46 billion, or $5.59 a share, surpassing analysts’ estimates.


Source:
www.bloomberg.com...

[edit on 4/20/10 by silent thunder]




posted on Apr, 20 2010 @ 10:26 PM
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I was watching Bill Moyers journal, today, and apparently the top 13 banks in this country (including goldman) control assets "equivalent to 60 percent of our gross national product."

That makes these 13 banks more powerful than the US government, and probably the worlds governments as well, because if they wanted to (or did so by accident) they have the power to tank the entire economy -- and if the USA goes down, so goes the world's financial system with it.

Scary thought.. I'll update with the link to the video.

Edit here's the video:
Part I
Part II

Edit to make a correction.

[edit on 20-4-2010 by Kaytagg]



posted on Apr, 20 2010 @ 10:31 PM
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I'm sorry. I s/f'd this mostly because you spelled 'schmawsuit'. (...and I thought the title was funny. True. But funny.)

But you're not s'posed ta have a sense of humour on ATS apparently. It offends people. *sigh*



posted on Apr, 20 2010 @ 10:48 PM
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I have burrowed into this story, learned everything publically availible and put some serious thought thought into what may occur.

My idea's

1: Goldman will be fine, probably end up better off
2: The 18 other banks banks being investigated will settle with the SEC and investors out of court for fractions of a penny vs. the loses incurred and violations perpatrated. No one will pay attention. MSM or investors. (Example, Franklin templeton just settled for 200 million on a 13 billion loss)
3. Banking regulation will pass through Congress and be signed into law. Unfortunately, it will be so complex that no one employeed by the gov't can understand it and the lawyers and accountant employeed by banks will figure out a way to avoid the new regs.

what can I say, the glass is half empty and was taken away by the bartender. i am beyond cynical or jaded.



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