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A comment on Goldman-Sachs Posts $1.8 Billion 1Q Profit, Looks to Sell Stock, Repay TARP. Parent comment

Re:Goldman-Sachs Posts $1.8 Billion 1Q Profit, Looks to Sell... by ajju on Tuesday April 14, 2009 @12:22AM (#561000)
Goldman's secret to "success" in this instance is the freshly changed accounting rules (see my comment elsewhere) and in the recent past has been the patronage of ex-Goldman Sachs CEO and now treasury secretary Paulson.
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Re:Goldman-Sachs Posts $1.8 Billion 1Q Profit, Looks to Sell... by kqr2 on Tuesday April 14, 2009 @12:59AM (#561029)
Actually, Paulson is no longer the Treasury Secretary. Timothy Geitner holds that post.
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Re:Goldman-Sachs Posts $1.8 Billion 1Q Profit, Looks to Sell... by jacoblyles on Tuesday April 14, 2009 @02:42AM (#561116)
Accounting rule changes that were long overdue. I know of at least one case of a mortgage firm whose loans were performing but was put under by the decline in market value of its assets.

Presumably if Goldman Sachs' success is solely due to changes in accounting rules, we will see most other financial firms follow in their footsteps.

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