Goldman Sachs - Monster Quarter - 8:45AM

Shocked? Not me, I expected this. When you are in bed with the government, and their bailout money, who wouldn't make a profit? From MarketWatch By Greg Morcroft NEW YORK (MarketWatch) -- Goldman Sachs Group Inc said on Tuesday that its second quarter net income rose to $3.44 billion, or $4.93 a share, compared to $2.05 billion, or $4.58 a share a year ago. Analysts polled by Thomson Reuters had expected the company to earn $3.54 a share in the quarter. Net revenues at the firm were $13.76 billion in the second quarter, compared to $9.42 billion last year. Goldman switched from a fiscal reporting schedule to a calendar schedule last year, and this year's second quarter ended in June, while the year ago data is for the period ended May 31, 2008.

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We also have this: CIT Group, which gives credit to many businesses is having a hard time recently: As their chart shows, they have been dropping quite severely, but the last two days have been really bad. But, not to worry, from Bloomberg we see this - CIT Rises on ‘Active’ Talks for U.S. Aid Before Debt Maturity - really? From the article - July 14 (Bloomberg) -- CIT Group Inc. rose in European trading after the corporate lender said it’s in “active discussions” with regulators about a rescue before $1 billion of bonds mature next month. ANOTHER RESCUSE/BAILOUT? Screw that, we the taxpayers have given these damn financial companies enough money. Here's an idea - LET GOLDMAN SACHS BAIL THEIR ASS OUT. By the way, they are up over 18 percent pre-market. Investors (cough, cough) ready to jump on the government backed gravy train. Err...I mean taxpayer backed gravy train. The robbing and pillaging continues.