It is sort of like the career arc of William Shatner. You know, when he had to do the voice for the animated Star Trek series? There was the first film and then (gulp) TJ Hooker? That was bad. Really bad. But, in a way, what better way to put him out to pasture but as a white cop in "LA" with an expanding waistline? (And there was Heather Locklear to look at, after all). But if you counted the Shat out, you were mistaken. A long series of films followed along with Priceline, of course, followed by The Practice and Boston Legal, putting the big WS back in the captain's chair until he becomes so corpulent and decrepit that there simply is no where the man has not gone that he may now boldly go. (Of course, the rest of the crew aged less well. Though, James Doohan cost us a deadpool win four years in a row. That guy just wouldn't give up the ghost).
And so it was with Goldman. Expanded waistline wracked by sudden, illness related weight-loss. On government life support. Sucking saline (and presumably morphine) from the wide open IV. Converting to a bank holding company. Things looked grim, yes. Not so fast, Barney.
Goldman Sachs' first-quarter results announcement displayed a characteristic mixture of operational prowess and political savvy.
Kicking off the US banks' reporting season, Goldman handily beat analysts' forecasts. It also confirmed plans to raise capital and free itself from the shackles placed on its compensation practices by the $10bn of government aid it received last year.
The understated tone of Lloyd Blankfein, Goldman's chief executive, who said in a statement he was "pleased with this quarter's performance" could hardly mask the fact the Wall Street bank has set a bar that many rivals will find hard to clear.
It's Goldman II: Wrath of Blankfein time. Suck it, Montalbán (Waters).
Goldman's results set a high bar for rivals [The Financial Times]