Goldman Sach’s: The Offshore Specialist

Goldman Sachs’s Tax Rate Drops to 1%, or $14 Million (Update1)

By Christine HarperDec. 16 (Bloomberg) — Goldman Sachs Group Inc., which got $10 billion and debt guarantees from the U.S. government in October, expects to pay $14 million in taxes worldwide for 2008 compared with $6 billion in 2007.

The company’s effective income tax rate dropped to 1 percent from 34.1 percent, New York-based Goldman Sachs said today in a statement. The firm reported a $2.3 billion profit for the year after paying $10.9 billion in employee compensation and benefits.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aznONFlyupOI&refer=home

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This entry was posted on Wednesday, December 17th, 2008 at 8:58 am and is filed under Archived. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Goldman Sach’s: The Offshore Specialist”

Richard M. Rosenthal Says:
December 17th, 2008 at 8:38 pm
Alex– thought you should be aware of this if you aren’t already. Best, Richard

Captured Congress, SEC and Financial Media Enabled Economic Meltdown

“…the crisis now decapitating the world”s economies didn”t have to happen” would not in fact have happened if those charged with protecting the financial system and the investing public” namely Congress in general and the Securities and Exchange Commission in particular” had simply done their jobs, upheld their oaths, and seen to the enforcement of laws already on the books, instead of consistently looking the other way; or worse still, directly aiding their campaign contributors, benefactors, patrons, employers and future employers by contemptible acts of public disdain…

In eschewing its once noble calling to speak truth to power as the Fourth Estate, today”s captured corporate media has become our 21st century fifth column, abusing the public trust from within by either failing to investigate and accurately report evidence of massive unlawful conduct, or on the rare occasions it does, by sugarcoating criminal deeds with words more aptly suited to boyish pranks…

One wonders how those who”ve charted the SEC”s course over the past 8 years could have any doubts about it! As the agency explicitly created to first and foremost, uphold and protect the integrity of the markets and the best interests of the investing public, they have, with unceasing devotion, in the eyes of most informed observers, done the exact opposite” enabling wrongdoers to operate with almost total impunity.

full article: http://calltoaccount.wordpress.com/2008/12/14/
Alex Stanczyk Says:
December 17th, 2008 at 9:06 pm
Great find Richard, thanks for posting it.