Goldman Sachs

Goldman Loses $700m on Commercial Mortgages 

Goldman Sachs Group [stock GS][/stock] posted strong $3.44bn net earnings for the second quarter of 2009 (Q209) despite a $700m loss on commercial mortgages. The positive earnings come even after the firm’s one-time preferred dividend of $426m, included in the $10.04bn repurchase of TARP preferred stock from the US Treasury Department. Goldman completed a public offering of 46.7m common shares at $123 per share for total proceeds of $5.75bn in an effort to boost capital.