Tuesday, September 16, 2008

Goldman's earnings

Goldman makes $1.81 for the quarter.

And still they have $58 billion of Level 3 assets of which they have exposure which is 129% of their $45 billion of capital. And they still have $78 billion of derivative hedges to counterparties, of which only 11% are AAA.

And one of their AA counterparties, AIG will be in bankruptcy court tomorrow.

And this quarter, Goldman only spent $271 million buying back stock at $180. They finally decided to quit burning cash buying back their over-priced stock!

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