Goldman Sachs, a global investment group, received 10 billion or so dollars from last fall's government bailout. Somehow they quickly earned enough money to pay it all back and are once again so profitable that they can give their executives huge bonuses.
It's a mystery to me just what companies like Goldman Sachs do. A part of me really wants to know how they make such huge amounts of money while another part of me realizes I just wouldn't understand it.
Unfathomable.
I think it was $10 billion dollars.
Posted by: Ron | July 16, 2009 at 07:59 AM
By the way, Goldman Sachs, simply acts as an intermediary for all kinds of financial transactions and charges a fee for the sevice they provide.
It is basic business practice followed for hundreds of years.
Posted by: Ron | July 16, 2009 at 08:16 AM
10 billion, you're right. What a huge misprint.
Posted by: Diane | July 16, 2009 at 08:37 AM
I don't think the government even counts millions anymore!
Posted by: Ron | July 16, 2009 at 09:44 AM
I don't think Goldman Sachs counts millions anymore.
Posted by: Rand | July 16, 2009 at 10:07 AM
Fees from order flow trading have been replaced by spread trading for decades. When the NYSE in the 70s eliminated fixed rates, the business of generating revenues via being an intermediary was over. Order flow trading is used to facilitate proprietary trading accounts, the greatest revenue source for GS.
Posted by: GetReal | July 17, 2009 at 07:54 AM