Opening Bell: 10.15.09

Author:
Updated:
Original:

Goldman Sachs Reports 2009 Third Quarter Earnings Per Common Share of $5.25 (GS)
"Although the world continues to face serious economic challenges, we are seeing improving conditions and evidence of stabilization, even growth, across a number of sectors," said Lloyd Blankfein. "Our client franchise businesses -- advisory, financing, market making and asset management -- contribute to and benefit from the overall improvement in conditions. Because the job market, and growth more generally, remain under stress, we continue to be focused on actively helping our clients in order to promote greater economic activity."
Citigroup Posts Net Income of $101 Million (CNBC)
Loss of 27 cents a share.
Goldman Sachs Bonus Stigma May Overshadow Charitable Endeavors (Bloomberg)
This guy's not happy: "Surely there are extraordinarily important uses of capital in a capital-constrained society that they might consider rather than just paying themselves sums beyond the dreams of avarice," said Ben W. Heineman Jr.
Calpers Rocked By Pay To Play (WSJ)
Don't tell Calpers that, though: "We are gathering facts to confirm that the $50 million in fees paid to Arvco did not come at our expense," said spokeswoman Pat Macht.
City bankers 'regularly offer prostitutes to clients' (Guardian)
Your shock of the morning.
Bear Stearns Fund Managers Lied Repeatedly to Investors, Prosecutor Says (Bloomberg)
Several times! Not according to defense attorney Dane Butswinkas, though, who said his client Ralph Cioffi is a victim of the financial crisis. Also: "People counted on their ability to forecast the future -- sometimes they're right and sometimes they're wrong, but they're not criminal."

Related