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Champagne explosion

Okay, boys. The recession is over. Everybody back to work.

Goldman declined to comment over the weekend, pending its Tuesday earnings report.But if the analysts are right — and given the vagaries of Wall Street trading, any hard forecast is little more than a guesstimate — the results will extend a remarkable run for Goldman that was marred only by the single quarterly loss last fall of $2.12 billion.Goldman Sachs is betting on the markets, but the markets are also betting on Goldman: Its share price has soared 68 percent this year, closing at $141.87 on Friday. The stock is still well off its record high of $250.70, reached in 2007. In essence, Goldman has managed to do again what it has always done so well: embrace risks that its rivals feared to take and, for the most part, manage those risks better than its rivals dreamed possible.



  1. Thats funny. Goldman does something really well, it uses government for its own benefit. It manages risk by putting the risk on the taxpayer and it uses government to get rid of the competition. They are happy to cap and trade because they will make even more money. In a really free market, Goldman would be out of business.

    Sorry the recession is not over, the recession will only be over when government and its leaches like Goldman let the free market correct the imbalances. Chance of that happening less than zero. Soo hold on for a rough ride ahead.

  2. Biggest donor for Obama was Goldman Sachs. I guess they where hoping to get some of that “change” you can believe in. I am looking forward to the other two big financial contributors to Obama, Citigroup and Chase, I am sure they will be making some “change” you can believe in too.

  3. J.P. Morgan Chase reported a 36% increase in second-quarter net income to $2.72 billion from $2 billion a year earlier. Revenue jumped 39% to $25.62 billion. J.P. Morgan has benefited from competitors’ weakness in the wake of the credit crisis. The company said TARP repayment trimmed 27 cents from earnings per share.

    The competitors weekness is because Chase was “to big” to fail. So instead of failing and becoming “weak” like the cometition they have been given special treatment which is not capitalism. It is crony capitalism from the “change we can believe in” guy.

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