Goldman Sachs profits fall 82 percentRead the rest here
Investment giant Goldman Sachs on Tuesday said its profits fell 82 percent in the second quarter of the year against the same period last year.
Reporting net earnings of 613 million dollars, Chief Executive officer Lloyd Blankfein said the business environment had become tougher for the embattled firm.
"The market environment become more difficult during the second quarter, and as a result, client activity across our business declined," he said in a statement.
In first three months of the year, Goldman reported that profits had nearly doubled to 3.46 billion dollars.
Revenues in the second quarter reached 8.84 billion dollars, down 36 percent from the year before.
GoldmanSachs666 Message Board
According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage". In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia
Tuesday, July 20, 2010
Wanna bet they still get outrageous bonuses?