NYT: Goldman Sachs Likely to Post Huge Profits

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Updated July 13, 2009

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NYT: Goldman Sachs Likely to Post Huge Profits

July 12th, 2009, 11:23 PM

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Big Mike

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GS is expected to release a huge number for earnings.

NYT:
https://www.nytimes.com/2009/07/13/business/13goldman.html?_r=2&partner=rss&emc=rss

Quoting

Analysts predict the bank earned a profit of more than $2 billion in the March-June period, because of its trading prowess across world markets. If they are right, the bank�s rivals will once again be left to wonder exactly how Goldman, long the envy of Wall Street, could have rebounded so drastically only months after the nation�s financial industry was shaken to its foundations.

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Quoting

Analysts estimate that the bank will set aside enough money to pay a total of $18 billion in compensation and benefits this year to its 28,000 employees, or more than $600,000 an employee. Top producers stand to earn millions.

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Last Updated on July 12, 2009