Bailed-out Goldman Sachs profits soar to US$3.44bn
Wall Street giant Goldman Sachs shattered forecasts on Tuesday with US$3.44 billion in quarterly profits after paying back a US government bailout, suggesting the financial crisis is easing. Goldman, which reimbursed a US$10 billion federal bailout in full in the second quarter, said its net profit soared 65 percent thanks to robust trading operations. The prestigious financial firm is the first of the “big guns” in the sector to report second-quarter results. Rounding out the week is JPMorgan Chase today, followed by Bank of America and Citigroup tomorrow. Goldman reported…
from WN.com – World News
