Goldman's Earnings Low Quality

Goldman increased the value of its stake in the Chinese bank, ICBC, by $905 million because sale restrictions were lifted. Without that increase, earnings for the quarter would have been worse. I am weary of Chinese banks as there is too much political influence in China on who banks lend to and there is a real estate bubble. I will be very surprised if Goldman could pull that money out. Goldman's earnings are worse than they appear.

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