Damned If You Do: Profiting in a Recession
While much of America remains mired in a recession, Goldman Sachs is booming. The investment bank just paid back the $10 billion loan it took from the federal government last year and today Goldman is expected to announce a $2 billion dollar profit in its second quarter earnings report. How did Goldman go from bust to boom so quickly? Joining The Takeaway with their analysis are Matt Taibbi, a contributing editor to Rolling Stone, who wrote a scathing article on Goldman’s practices, and Graham Bowley, a financial reporter for The New York Times. Graham’s article on Goldman’s expected earnings set off a market buying frenzy.
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