Matt Taibbi - Taibblog - The real price of Goldman’s giganto-profits - True/Slant: "Equity underwriting boomed during the period as dozens of banks raised money to strengthen capital and repay Troubled Asset Relief Program funds. The business reported record revenue of $736 million.via Article - WSJ.com.
So what’s wrong with Goldman posting $3.44 billion in second-quarter profits, what’s wrong with the company so far earmarking $11.4 billion in compensation for its employees? What’s wrong is that this is not free-market earnings but an almost pure state subsidy."
Friday, July 17, 2009
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