Monday, April 13, 2009

Goldman posts profit, will raise $5 Billion through stock offering to pay back TARP Funds

A news alert from the NY Times:

Goldman Sachs, the first of a string of banks to announce first quarter results over the next few weeks, also said it intends to raise $5 billion in common stock from the public. The bank said that new capital would help it return the $10 billion in government aid that it received last fall. Goldman will need approval from regulators to return the taxpayer capital.

In other news, an unnamed source within Goldman Sachs stated that the company was looking forward to running as far away from the Treasury Secretary as humanly possible.

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