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Charlie Gasparino “Goldman Sachs was Toast Last September”

Posted on | July 14, 2009 | No Comments

On air contributor to CNBC Charlie Gasparino just posed a great question, “Why is Goldman Sachs allowed to remain a bank?”  After receiving TARP funds and getting the securities of a bank, isn’t it time to let them be the hedge fund they truly are?  They blew out estimates today and posted income of $3.44 billion earlier today.  There is little doubt that almost all of these earnings are with the assistance of the federal government.

Charlie pointed out that Goldman was toast right after Morgan basically went under and was changed from an investment bank to a bank holding company by the Federal Reserve.  It was only a matter of days that Goldman went under too if they weren’t given bank holding status.  Now that they are making HUGE profits, shouldn’t we let them go and force them to be a hedge fund again; or whatever they want to call themselves?

Charlie has been right from day one about all of these banks and financial institutions so I take notice when he makes a comment like this.  There is absolutely no way that the bank holding status will be taken away though as MANY former Goldman employees are on President Obama’s staff.

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