Von Aldo

Behind Goldman's Gaudy Q2 Earnings

Goldman Sachs wowed many with its second-quarter earnings. But now that analysts have had a day or so to sift through Goldman's 10-Q, the wow factor has dimmed somewhat. In this blog post from the Economic Policy Institute, the writer, Lucas Puente, notes "the financial giant continues to benefit from several government programs aimed at loosening up credit markets." Goldman received $13bn from the AIG bailout, enjoyed "artificially" cheap capital via the TLGP program and very cheap overnight loans from the Fed.

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