Sunday, June 21, 2009
Why is this not surprising
After its former CEO deftly used government monies to save it from the disaster it had created in CDS's and two loyal proteges of another former CEO managing any new regulations to maintain the status quo. it looks like a good year for Goldman Sachs.
Staff at Goldman Sachs staff can look forward to the biggest bonus payouts in the firm's 140-year history after a spectacular first half of the year, sparking concern that the big investment banks which survived the credit crunch will derail financial regulation reforms.Would Merrill Lynch still be alive if they had been smart enough to put their people in government?
A lack of competition and a surge in revenues from trading foreign currency, bonds and fixed-income products has sent profits at Goldman Sachs soaring, according to insiders at the firm.
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