Goldman Sachs whacked by Paul Volcker
Friday, January 22nd, 2010Former Federal Reserve chief Paul Volcker overshadowed Goldman Sachs’ biggest-ever profit.
Based Goldman Sachs posted a gaudy fourth-quarter profit of nearly $5 billion. That number beat the Wall Street analyst consensus estimate by more than $3 a share, thanks to an unusual reduction in employee compensation that handed shareholders a $3 billion after-tax bonus.
But investors weren’t cheering. They were too busy fretting over the big banks’ profit outlook in the face of a growing bonus backlash now seemingly joined by the White House. (more…)
Tags: goldman sachs earnings, goldman sachs earnings release, paul volcker whack goldman sachs
