More so than other big banks, Goldman Sachs depends on stock and bond trading to make money, and the financial markets were the place to be in the second quarter.More so than other big banks, Goldman Sachs depends on stock and bond trading to make money, and the financial markets were the place to be in the second quarter.The economy is tanking across the country, with layoffs and bankruptcies as far as the eye can see. But the richest sliver of the country continues to do quite well, thank you.
While other banks are warning about rising loan losses during the recession, Goldman, which tends to serve a higher-end clientele, is sounding a pretty optimistic note., bringing in revenue of $13.3 billion, up 41% from a year ago — and its second-highest quarterly revenues ever.
Seriously? That is crazy.....we need our middle class back.
Goldman Sach rakes in huge profit by breaking the laws and cheating and stealing. Read all about their involvement in 1MDB Malaysia. They get away with it very lightly. All the board of Directors should be jailed for years but they got away with it.
ScotMackRI 'It benefited from a record surge in trading of stocks and bonds as well as profits from investment banking fees.' Nothing wrong with that. Good for Goldman. Which, by the way, is a publicly-held company. Closed today at $211.41 per share. Dropped in last couple days.
Don't tell the Republicans. They'll want to give them another tax break.
“and its second-highest quarterly revenues ever. It benefited from a record surge in trading of stocks and bonds as well as profits from investment banking fees.” Second Highest quarterly revenues EVER. While the rest of America eats Goya beans, no Pork.
TheValuesVoter Golden Sacks
Because the Democrats are intent on destroying Mom and Pop's to the benefit of big corporations. It makes me SO ANGRY!! I'm a 4th gen entrepreneur and a lifelong voting Democrat in California. This year I'll be voting RED first time in my life! Enough of this NIGHTMARE!
calimarc Now middle class white people are getting a taste of what indigenous, Black , and Latinx in America have always dealt with. Welcome.
White euro fascist imperialist capitalist consumerism is imploding false print no commodities
lourdesgnavarro Rich begat rich.
Economy is booming. Stop lying
If most of the poor and unfit just die off, this won't be a problem. That's how Capitalism works🤪. Compete or be elimimated
FakeNews DefundNPR
Maybe invest in the market instead of new shoes/clothes/weed/whatever.
Sharpen the guillotines.
Break out the torches and pitchforks. Time to take the country back
The economy is “tanking” because of fear and government.
lourdesgnavarro This should tell us *everything* we need to know about the monster we’ve created in this country
Defund npr
msunielsen And often paying their executives millions before filing bankruptcy.
Sickening.
Because he's dirty, all of America knows he is, and all the uber filthy rich. realDonaldTrump
lourdesgnavarro Late stage capitalism is great
lourdesgnavarro TheWhiteCollarChokesTheBlueCollar
Closing the economy exacerbates inequality - we need to open the economy and learn to deal with the virus (the Swedes have the right idea).
Thanks to democrats
And, fools who believe NPR HateSpeech, the economy is still stronger during a global pandemic, than it was during all 8 of Barack Hussein O's regime's years. Tanking? Facts matter. News lies. FakeNews Believe what you can see, not what they tell you.
Well we definitely strengthen them from the Great Recession. I am sure the CARES act and other legislation did not hurt them with their collection of fees.
capitalism is the disease. Socialism is the cure.
Playing the old class warfare card ahead of an election. divisive Progressive propoganda FakeNewsMedia A s s h o l e s !
Is economy tanking? Market bounced back pretty quick, biz had innovated. Not great but that headline is your 'agenda'.
Maybe because the left continues to push for a complete economic shut down for a virus with a 99.89% survival rate...ppl keep spending but nothing being brought in.. common sense.
when people allow a system where 'poor people' die to keep 'rich people' rich, this is what happens. Want to see one of those billionaires working the counter at a fast food joint or cashier at a retail monopoly.
I dont understand how this is possible when they are not even advising on any M&A deals.
Eat the rich
Your 401K likes this news. What did bugs bunny say, if you can’t beat ‘em join ‘em.
What is happening in America right now is by far the most disgusting thing I’ve ever seen in my life ... the negligence, corruption, and greed of the 1% has literally spiraled out of control into an effing dumpster fire
Big banks are raping Americans right now. Going in together bullish on stocks to short squeeze the small man who clearly sees a faltering economy. The same entity who stole our mortgages, defaulted, and we paid off to survive - is now raking in the money in this contrived rally
Tanking? NPR is apparently ignoring the employment numbers.
Ya....and two government bail-outs would help their profits as well....
Agree with most, but our economy needs a shock absorber and that is what stocks are doing. Pray that they don’t tank.
Will the stock market ever reflect reality? Usually massive unemployment and businesses closing would tank the market. I'm not understanding this at all.
13.3* billion. You're welcome. 💜🌈🦄
A crisis never affects the wealthy.
And Bastille Day was yesterday. Where was everybody?
Ain't that always the way.
Of course the top 1% gets to be fine right now - while the rest of us pay with our jobs and even our lives under administration- they don’t care if w die or our kids die- PPP loans going to non small businesses - the whole thing is a freaking sad sadistic joke
I’m in the wrong business
This is how broken we are as a Country. When the oligarchs have so manipulated the economy and the tax base to their desires that they no longer feel any pain - rather, the worse it gets for US, the more they profit from it. Capitalism gone horribly WRONG
You are being purposefully deceitful with this headline. Anyone with money in the stock market is happy it’s doing well. Not just the rich. That means anyone with a 401k or a retirement fund invested in the market as well.
The economy is NOT tanking across the country. It's actually going back up quite nicely. I'm giving you a well deserved FakeNews on that one. And no, Biden's not gonna win. You can stop the propaganda. You failed miserably in 2016. Do you actually think it will work this time?
No, some of us want to work.
Yeah and our bank accounts still
Sigh.
Getcha one of those GS personal loans 25- 30 Interest and forget about pay day lenders same thing.
That’s actually disgusting.
Boo 😒
It’s what happens when interest rates are 0% and when the governments around the world borrow money. It’s rocketed since stimulus. Financial assets rise fast especially now that millions are trading stocks in retail.
Amazing how they didn't get affected like the rest of the country. Thank goodness for the banks and wall street keeping themselves secure and afloat during a tanking economy. Meanwhile, the bigger picture of the real world is sitting on pins and needles struggling to survive.
Capitalism was a mistake.
What the rich fail to understand is if enough peasants (how they see you) are unable to work their income will dry up. Yes I understand they can live off the wealth they already have but having spent time around dozens of millionaires they will panic if their income falls.
Like of course they do. This has been the trump economic strategem since day one
Nice to have the federal government prop them up using our tax dollars while we wait in food lines and are getting eviction notices.
This is why we need Elizabeth Warren in a prominent governmental role.
😪😡
All of our clients are doing great and a few are expanding during your economy that’s tanking.
Why? because the government is pumping money into their bank accounts. I’m sure it’ll trickle down!
Anyone else polishing their guillotines?
Got any good news NPR?...probably not....
Borrow money from the Fed at 0% and then pump growth stocks. It's not something the average investor can do.
Vote for Trump! Full disclosure- I have a post-apocalyptic hellscape fetish.
will this trickle down?
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