Goldman Sachs loses $428 million in third quarter

I doubt if they "lost" anyting. They are probably writing-down something so that next year will be a bumper harvest.

Anything less than $50 billion rounds to zero.<p><a href="http://www.smh.com.au/business/lot-of-bull-about-goldman-20090728-dzrl.html" rel="nofollow">http://www.smh.com.au/business/lot-of-bull-about-goldman-200...</a>

I wonder how much of this is attributable to bonus payouts.

Cry me a river.

I misinterpreted this article title as "Goldman Sachs <i>"misplaces"</i> $428 million".

<i>revenue slumped 60 percent</i><p>So bonuses are going to be 60% lower, right? (not likely)

Q1 profits: $2.7 billion<p>Q2 profits: $1.0 billion<p>Q3 profits: -$.5 billion<p>Unless they lose $3.2 billion in the 4th quarter, they will still be plenty profitable.

It's a bit like a business that takes horrible risks with fire. The business burns down and the fire takes out most of the town. The business borrows money from the town to rebuild itself and pays what it borrowed back with interest.<p>How do you think the rest if the town's citizens feel toward the fabulously wealthy business owner when he states: "I paid you back with interest!"

My heart bleeds...

Not enough.

They found out that loosing money and then getting bailed out gives even more profits.

Why are people happy about this? I thought Warren Buffet was supporting higher taxes on rich people. And GS is already moving toward closing up the "investment banking" part of their business and becoming a normal "bank holding company".<p>Who are they hurting?

Obama better get out quickly before he gives them one last bailout.