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Goldman Sachs Reports $1.6 Billion 1st Quarter Profit

HeadlineApr 14, 2009

This comes as Goldman Sachs reports it made over $1.6 billion in the first three months of the year. Last week, Wells Fargo says it expects to report record first-quarter earnings of $3 billion. Both companies have received tens of billions of dollars in taxpayer bailouts. Goldman Sachs said it plans to raise $5 billion in stock to help it pay back government bailout funds in part to free itself from government-imposed restrictions on executive compensation.

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