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| It’s the best of times for Goldman Sachs, and the worst of times for the rest of us. Ironic that this news would break on Bastille Day: Goldman Sachs’ profits for the second quarter smashed Wall Street estimates and are likely to trigger a windfall for bankers. The bank, long considered the most prestigious and profitable on Wall Street, recorded net profits of $3.44bn in the [...] So says our Representative Brian Baird and I quote him from a link to a story in my earlier article: Baird said the legislation also will prevent executives who presided over the financial crisis from reaping huge salaries and bonuses. “Any company that chooses to participate in the program will not be able to offer their departing executives exorbitant severance packages,” he said. “In companies where the [...] On the day that the first of the bailout dollars are to be disbursed, we learn this: Oct. 27 (Bloomberg) — Five straight quarters of losses and a 70 percent slide in its stock this year haven’t stopped Merrill Lynch & Co. from allocating about $6.7 billion to pay bonuses. Goldman Sachs Group Inc. and Morgan Stanley, both still on track for profitable years, have set aside [...] I just got my Fidelity IRA statement and don’t have the guts to open it. So far this morning, the Dow has fallen almost 360, with many wondering if it will lose 1,100 before 2pm triggering a suspension of trading. Something has to be done to quell fears of a national/international recession bordering on depression. Yes, emotion is driving the market, but their are big, bad [...] that Henry Paulson gave up his position at Goldman Sachs in order to be in the position to take the economic reigns at precisely this moment in history, to be able to bail out the system – at taxpayer expense – that he helped bankrupt? Why would the man known as “The Hammer” give up CEO compensation of $38 million a year (making in two days [...] | Available Streams 2    | ||||
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