Goldman Sachs released their earnings early tonight after hours, instead of tomorrow morning.
Goldman solidly beat both earnings and revenue expectations, and has indicated that they intend to pay back their TARP borrowings as soon as possible.
Matt Miller of Bloomberg TV has used the term 'blowing away' their numbers at least thirty times since they announced their numbers after the close.
The major source of profit for Goldman Sachs was from speculative trading.
There will be no recovery in the real economy until the financial system is reformed and banks are restrained into productive functions within our society.
Goldman posts $1.7 billion profit, plans $5 billion offer
Monday April 13, 2009, 4:28 pm EDT
NEW YORK (Reuters) - Goldman Sachs Group Inc posted first-quarter earnings of $1.66 billion, a higher-than-expected profit helped by strong trading revenue, and said it planned to raise $5 billion of common shares.
The New York-based bank reported net income applicable to common shareholders for the quarter ended March 27 of $3.39 a share. For the quarter ended February 29, 2008, the company posted net income for common shareholders of $1.47 billion, or $3.23 a share.
Analysts had on average expected earnings of $1.49 a share, according to Reuters Estimates.
Goldman said it planned to use proceeds of its share offering plus additional funds to repay the $10 billion of capital it received from the U.S. government under the Troubled Assets Relief Program.
"A new, invisible and at times virtual, tyranny is established, one which unilaterally and irremediably imposes its own laws and rules. Moreover, indebtedness and credit distance countries from their real economy and citizens from their real buying power. Added to this, as if it were needed, is widespread corruption and selfish fiscal evasion which have taken on worldwide dimensions. The will to power and of possession has become limitless." Francis I, 16 May 2013