Posted on 01/18/2012 11:23:47 AM PST by combat_boots
NEW YORK (CNNMoney) -- Goldman Sachs reported a fourth-quarter profit of about $1 billion on Wednesday, reversing a loss from the third quarter and topping expectations. But the company's revenue declined from a year ago and missed analysts' forecasts.
Slashing compensation and nearly $1.4 billion in other expenses helped Goldman Sachs (GS, Fortune 500) generate its nearly nine-figure profits last year.
Chief financial officer David Viniar said cost-cutting won't be the firm's primary focus going forward. "It's not possible to cut expenses as a means to prosperity," he said during a conference call following the earnings release.
(Excerpt) Read more at money.cnn.com ...
Democrat Fascism pays very, VERY well, if you own the right Democrats....
GS is going to make BILLIONS MORE on Gasoline Specs they put in November/December, now that Obama has killed Excel.
ALL HAIL THE MESSIAH OBAMA! (or else...)
“GS is going to make BILLIONS MORE on Gasoline Specs”
Seeing as how I remember Hank Paulson—formerly of GS—went to tell the Dems 1st of the 2008 melt down, I shouldn’t wonder if GS simply let the ruse on Keystone play out long enough for them to cash in big.
GS and cronies are making the US economy one big, fat snipe hunt.
Note: Actual snipes are a mammal, if not the only one besides humans, that purposefully kill each other.
If, THREE YEARS AGO, I had seen the headline “Goldman Sachs posts $1 BILLION profit”, the word “BILLION” would have really gotten my attention. But, with the debt limit being raised by a TRILLION or so, every couple of months, a BILLION bucks is literally chump change. The late Everett Dirksen said: “A billion here, a billion there, pretty soon, you’re talking real money”. If he said it today, TRILLION would replace the word BILLION.
GS would not even still exist if it were not for being bailed out by the US tax payer. And to think that they are in the front line when it comes to causing this mess. We have been bailing them out every day through the schemes they have worked out with the FED, and Treasury.
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