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Blogging the Goldman Sachs earnings call

Goldman Sachs is on a roll. The firm’s second quarter profit was nearly twice as large as many analysts expected. The firm has paid back its TARP funds and is taking trading risks that other banks are afraid to take. The big question investors will be asking: Can Goldman keep the profits rolling through the rest of the year?

David Viniar CFO says Goldman's fixed income business - a big part of its $13.76 billion in revenue - benefited from "plain-vanilla transactions" issuing, underwriting and trading credit. (Those plain vanilla transactions never tasted so good. Thanks to wide spreads)

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