Goldman Tops Forecast, With $3.46 Billion in Earnings

[ixion]

Source: New York Times

Beset by accusations of securities fraud, Goldman Sachs nevertheless showed Tuesday that it was still very good at what it does best: making money.

...

In referring to the recent lawsuit by the S.E.C., Mr. Blankfein said, “In light of recent events involving the firm, we appreciate the support of our clients and shareholders, and the dedication and commitment of our people.”


...

With its results, Goldman became the fourth major bank to report this quarter, all benefiting from hefty trading profits. JPMorgan reported a profit of $3.3 billion, Bank of America earned $4.2 billion and Citigroup $4.4 billion. Morgan Stanley reports results on Wednesday.

Read more: http://www.nytimes.com/2010/04/21/business/21goldman.html?src=busln

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You know, it's very easy to beat earnings estimates when:

a) You have a direct line to the Uncle Fed, who's always happy to send you a few palettes of taxpayer cash.

and;

b) You game the market and defraud your investors.


And isn't it just ducky to see all these insolvent, poorly-managed, borderline criminal corporations doing so well in the worst economy since the 1930's? Isn't that just great? :sarcasm: