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Goldman Posts Record Profits on….Everything

The earnings release is pretty amusing considering the dichotomy between Goldman and everyone else.  It currently seems that most large companies can only make a profit by dramatically reducing costs and capital expenditures.

Goldman on the other hand has set aside enough compensation in Q1 and Q2 to pay every one of its 29,000 employees $773K on an annualized basis.

I have known a lot of smart people in my life and I believe that very smart people can do quite well when they put their abilities to the test.  I also know that no single person or single organization is smarter than everyone else (e.g. LTCM).  For one organization to do incredibly well while the world struggles raises a red flag in my mind.

“Behind every great fortune is a great crime”

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