Goldman earns $3.3B in 1Q as fraud case looms

Goldman sachs, Citi, JPMorgan, anyone using market-to-model accounting saw its trading business produce unexpected gains. Does any of this matter? That's for the investor to judge. It will reemerge as problem during the next financial crisis that no amount of window dressing style reforms will prevent.

Goldman Sachs Group Inc. said Tuesday its first-quarter earnings almost doubled to $3.3 billion as its trading business again surpassed the rest of the financial industry. It was a bit of good news for the bank as it faces a government civil fraud charge.

Source: finance.yahoo.com