Curb Zone - View Single Post - "Rich are getting richer, poor are getting poorer"???

450SEL6.9 · 10-27-2006, 12:28 PM

The rich are getting filthy rich again. Investment bank Goldman Sachs paid $2.58 billion US for a stake in Chinese bank ICBC in April. Today ICBC went public. Goldman's shares are worth $7.48 billion. That's nearly a $5 billion gain for six months work!

Not too long ago, Goldman made a $3.7 billion gain from a stake in Japanese bank Sumitomo Mitsui. They paid about $1.3 billion for it.

Goldman has 287 partners globally and they're likely paid an average of 5 million pounds according to one article. However, they can invest in Goldman's principal/proprietary transactions like ICBC. In the world of high finance, a game available only to the rich, the rich keep getting richer.

10-27-2006, 12:28 PM	#76 (permalink)
450SEL6.9 Inactive Account Join Date: Oct 2005 Posts: 825 My Mood: Thanks: 57 Thanked 60 Times in 54 Posts	Re: "Rich are getting richer, poor are getting poorer"??? The rich are getting filthy rich again. Investment bank Goldman Sachs paid $2.58 billion US for a stake in Chinese bank ICBC in April. Today ICBC went public. Goldman's shares are worth $7.48 billion. That's nearly a $5 billion gain for six months work! Not too long ago, Goldman made a $3.7 billion gain from a stake in Japanese bank Sumitomo Mitsui. They paid about $1.3 billion for it. Goldman has 287 partners globally and they're likely paid an average of 5 million pounds according to one article. However, they can invest in Goldman's principal/proprietary transactions like ICBC. In the world of high finance, a game available only to the rich, the rich keep getting richer. Last edited by 450SEL6.9; 10-27-2006 at 12:37 PM.