Check out the Goldman Sachs 4th quarter report (below.) They are doing just fine…yet they got a “special deal” under the fiscal cliff bill the President just signed…go figure….
“Goldman Sachs earned $5.60 a share in the fourth quarter, compared to $1.84 in the same quarter in 2011, and considerably more than the $3.78 analysts forecast. The investment bank’s sales of $9.24 billion easily topped expectations of $7.83 billion. Shares jumped more than 2% in pre-market trading.” FoxBusiness.com
Here is the special deal:
5) Subsidies for Goldman Sachs Headquarters – Sec. 328 extends “tax exempt financing for York Liberty Zone,” which was a program to provide post-9/11 recovery funds. Rather than going to small businesses affected, however, this was, according to Bloomberg, “little more than a subsidy for fancy Manhattan apartments and office towers for Goldman Sachs and Bank of America Corp.” Michael Bloomberg himself actually thought the program was excessive, so that’s saying something. According to David Cay Johnston’s The Fine Print, Goldman got $1.6 billion in tax free financing for its new massive headquarters through Liberty Bonds.C LICK HERE