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Goldman Sachs posted monster second-quarter profits of $3.44 billion, or $4.93 a share, the U.S.
New York financial giant Goldman Sachs said its fortunes had turned and it was ready to take the bold step of wriggling out from under the government's thumb. In the first major surprise of the corporate reporting season, Goldman said its quarter-to-quarter turnaround was strong enough to contemplate paying back the government the $10 billion it has received in from the Troubled Asset Relief Program, plus warrants that must be valued by an independent firm, The New York Times reported...
Goldman Sachs Group Monday reported $1.66 billion profit in the first quarter of 2009 and may be ready to return bailout funds to taxpayers, analysts said. The company issued its report Monday, one day before it was scheduled to be released, and said its profit was driven by record revenues of $6.56 billion in the unit in which mortgage and other credit instruments are traded, The New York Times reported.
A provision on bonus pay in the $787 billion stimulus package will weaken some firms, a Washington financial firm lobbyist said. The amendment to the bill written by Sen.
Warren Buffett, one of the world's richest men, made a long-awaited investment in a U.S. financial firm Tuesday, boosting investor confidence, analysts said.
Warren Buffett, riding to the rescue at Goldman Sachs (GS) with a $5 billion cash infusion announced Sept. 23, has long used the services of the giant investment bank, though sometimes grudgingly so.
By Eric Dash From his perch inside the U.S. Treasury Department, Robert Steel has wrestled with the troubles plaguing America's financial industry. Now he will confront those problems up close at Wachovia, one of the largest U.S. banks.
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