Goldman Sachs swings to profit, plans offering (to help redeem "all of the TARP capital." )

[sabra]

Source: MarketWatch

SAN FRANCISCO (MarketWatch) -- Goldman Sachs Group Inc. said Monday it swung to a profit in the first-quarter compared to the prior period, and announced it has commenced a public offering of $5 billion of its common stock. Goldman Sachs said net earnings for the period ended in March were $1.8 billion, or $3.39 a share, compared to $1.5 billion, or $3.23 a share in the same period a year earlier. Analysts had been anticipating earnings of $1.64 a share, according to Thomson Reuters data. Meanwhile revenue net of interest expense rose to $9.4 billion from $8.3 billion. Goldman Sachs said in a statement that it intends to use proceeds of the $5 billion offering to help redeem "all of the TARP capital." (Corrects figure for comparable period in 2008). End of Story

Read more: http://www.marketwatch.com/news/story/goldman-sachs-swings-profit-plans/story.aspx?guid={1D648B3A-A05E-462D-ABDA-8FF4E65F95D2}&dist=TQP_Mod_mktwN

[no limit]

1. And only a few months ago republicans were saying let them fail.

How well would that have turned out.

[Sebastian Doyle]

2. Fail, hell.

Put them in prison. Seriously, does that company make one fucking dollar from anything honest that was legal before the Bush Crime Family took office in 1981?

[SkyDaddy7]

3. YES...

There were problems but to say the entire company is a criminal organization is a bit much.

I know this is a NO NO on DU but I think we need to get back down to reality around here...People are calling Obama a failure and a Republican. They say he has done nothing for the little guy and everything for the banks.

What happen to rational thought around here?

[Sebastian Doyle]

4. Did I say anything about Obama?

Actually, I'm willing to give him a fair chance, but I don't expect puppets of the criminals like Summers and Timmy the Keebler Elf to be the solution to anything.

And it doesn't change the fact that Goldman Sachs produces ABSOLUTELY NOTHING except more ill gotten money for useless pieces of shit who already have far too much of it.

[aquart]

5. So who's gonna rush right out and buy that offering?