S&P Doesn't Buy Goldman Sachs' Turnaround

Standard & Poor’s warned today that Goldman’s awesome earnings last quarter may not be sustainable. The ratings agency is leaving in place its its negative outlook on the firm’s credit rating of A.

“Coupled with persisting weak economic conditions and capital markets turmoil, we believe it would be premature to conclude that a sustained turnaround” in Goldman Sach’s financial performance is under way, S&P wrote in a note reported by Bloomberg.

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