7/22/11

You ain't gon' get the same profits anymore

Goldman Model Planted Seeds of Distress - Bloomberg: "“Our normal desire is to get to 20 percent; I think it’s going to be very tough in this environment,” Chief Financial Officer David Viniar said on July 19 after the firm reported second-quarter net income that fell short of analysts’ estimates. “I’d be surprised if we did that this year.”" Jesus had an infinite profit model that actually works. It is called sharing. It is rarely practiced by Wall Street firms. It has had some success online. No one counts results as profit.


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