Posted on 04/13/2009 3:01:45 PM PDT by dawn53
...When Goldman became a bank holding company last fall amid the mushrooming credit crisis, it switched its reporting cycle so its fiscal quarters were in line with calendar quarters beginning Jan. 1. To adjust its reporting schedule, Goldman began fiscal 2009 on Jan. 1 instead of Dec. 1 of last year. The bank said for the month of December, which fell between the change in reporting cycles, it lost $1 billion, or $2.15 per share.
(Excerpt) Read more at finance.yahoo.com ...
It's Goldman, spawning ground for Master's of the Universe. How dare mortals question their accounting.
I never understood Government Sachs accounting.
So, the screams of bankruptcy coming from the finance sector were....bogus? Fraud?
Or is this a case where the balance sheet is now pristine and comfy with taxpayer dough.
I’m telling you. This is not USA anymore. I had a service rep tell me over the phone no less, we need to “line the bastiges up against a wall,” meaning politicians and the guy said this completely out of the blue.
*and the word wasn’t bastiges. It was the Big B word.
What do you mean? A balance sheet describes one particular point in time, not a certain period.
Well then you will never be Secretary of the Treasury then. You won’t be able, tax free to cash out of Goldman the 600 million you, ahem, earned, as is the legal privilege of becoming Secretary of the the Treasury.( Maybe that’s why Paulson didn’t worry about hitting the taxpayer for 700billion, he wasn’t, and his kids, kids weren’t going to pay a nickle)
Why if you worked in the New York Federal Reserve Bank, as the head overseerer of hanky panky for ten years, all but walking distance from Goldman, and even cheated on your taxes, you could be the new Secretary of the Treasury.
Flush from bailout cash.
Housing Slump Will End By Christmas, Predict Economists (UK)
Just what should be expected. All the people involved with fixing the economy are either former or present Goldman employees. Plus, all these people are the ones who are stopping the public from knowing where the hundreds of billions of dollars are going. It’s, of course, being funneled to Goldmans, via a phoney list of secret banks. All under personal direction of obama and the tax cheat Treasury Secy. The goal: to make our currency into a global currency.
Well, balance sheet is the wrong word, I probably should have said “accounting period” Either way, there’s something fishy about the whole Goldman Sachs deal. They got money from the gov’t, money from AIG through the back door, and now their stock price is up, lots of shady dealings IMHO.
Flush from bailout cash.
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My balance sheet would look pretty good too if I took tens of $Billions in TARP funds through AIG and just let some of it slide through to the bottom line ...
Who do these morons think they’re fooling ,, we’re not all Obama voters out here in flyover country ..
I think they switched because bank holding companies have to have a calendar year fiscal year. There’s nothing fishy about it—it was announced well before the quarter started, and the December numbers are also available.
The money from AIG is collateral that they are holding to insure that AIG performs on its contract. It doesn’t belong to GS, and I’m sure they accounted for it properly.
I think goldman sachs is a black hole of evil dems who are
controlling the financial world. they enrich themselves
and push socialism for the rest of us. they remind me of
wolfram and hart, the evil law firm in “angel.”
goldman-sucks cranks out more Pinnochios than a saw mill on double shift.
Author ander==== is alive and well. Here comes make believe accounting 101.
Who is more corrupt, the government, the banks, or the stock market.
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