Tweet
Some developments from this week that are relevant to this discussion.
LLoyd Blankfein (CEO of Goldman) announced that Goldman Sachs had redeemed warrants issued to the Treasury in connection with the $10 billion the firm received as part of TARP. The profit on the warrants, together with the interest paid to the Treasury on the TARP funds, generated a net annualized return of 23% to tax payers over a period of eight months. Goldman holds itself to a standard of 20% year-over-year return on equity to shareholders.
Bravo, Mr. Blankfein. As a tax payer in America, I thank you and your firm for your jobs well done.
In other news, Morgan Stanley announced its third-straight quarterly loss - $1.26 billion for the quarter.
Here's hoping they can turn things around.
LLoyd Blankfein (CEO of Goldman) announced that Goldman Sachs had redeemed warrants issued to the Treasury in connection with the $10 billion the firm received as part of TARP. The profit on the warrants, together with the interest paid to the Treasury on the TARP funds, generated a net annualized return of 23% to tax payers over a period of eight months. Goldman holds itself to a standard of 20% year-over-year return on equity to shareholders.
Bravo, Mr. Blankfein. As a tax payer in America, I thank you and your firm for your jobs well done.
In other news, Morgan Stanley announced its third-straight quarterly loss - $1.26 billion for the quarter.
Here's hoping they can turn things around.
Comment