Goldman’s market capitalization now less than bailout amount

As I write this, the common stock of Goldman Sachs last traded at $61.17 (current chart), which equates to a market capitalization of $24.95 billion, according to Google Finance.

Goldman reportedly received $10 billion in direct taxpayer support from the Troubled Asset Relief Program (“TARP”), administered by former Goldman CEO Henry Paulson and, if reporting by The New York Times is correct, at least $20 billion in indirect taxpayer support via the government’s bailout of AIG, now led by former Goldman director Ed Liddy.

Thus, Goldman may now be trading at more than a $5 billion discount to the amount of taxpayer support provided to keep it afloat.

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