Goldman Sachs Q2 Earnings Fall 80 Percent From '09 Goldman Sachs, one of the nation's most profitable banks, announced Tuesday that its second-quarter earnings are down more than 80 percent from last year at this time. CEO Lloyd Blankfein cited a "difficult market environment." Profits also were hit by a $600 million British tax on executive bonuses, and the company had to pay more than a half-billion dollars to U.S. regulators to settle civil fraud charges relating to its marketing of mortgage securities.

Goldman Sachs Q2 Earnings Fall 80 Percent From '09

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RENEE MONTAGNE, host:

NPR's business news starts with a rare disappointment for Goldman Sachs.

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MONTAGNE: One of the country's most profitable banks says its second-quarter earnings are down more than 80 percent from last year at this time. Goldman Sachs CEO Lloyd Blankfein blamed a difficult market environment. Goldman's profits were also hit by a $600 million British tax on executive bonuses, and Goldman has agreed to pay more than a half a billion to U.S. regulators to settle civil fraud charges relating to its marketing of mortgage securities.

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