Are we in the helm of subprime credit/mortgage crisis ? NO says Goldman Sachs. As their competitors reel and turmoil in the worrying economy and others being bailed out with infusion from the middle east, GS has reported soaring profits.
This year they have a net income of $3.22 billion. Last year they had $3.16 billion and they had announced an average annual compensation of about $622,000 to their employees. So there could possibly be a bonus to the employees again. Lets wait and watch!
3 comments:
Read this article....US Econony is deft in crisis but every coin has two sides
http://online.wsj.com/article/SB119759714037228585.html?mod=sphere_ts
Interesting! They have a smart team out there!
One's profit is others loss, when everyone took long position in Mortgage instruments, GS took short position.
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