Goldman, Morgan Stanley on track for profitable year.
The economy's in the tank, firms are going belly-up left and right, and Wall Street titans Goldman Sachs and Morgan Stanley are... having a good year? Hard to believe, but Barron's is reporting the two banks "seem on course for a profitable first quarter and full year." Morgan's stock is up 58 percent to $25 a share, while Goldman is up 17 percent, to $98. Why? Both lack the crushing consumer-debt and commercial-loan portfolios of their rivals, and "both have bolstered their relationships with institutional traders in the important bond, equity, commodity and foreign-exchange markets," Barron's reports.
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