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To: Joseph G. who wrote (6743)	9/22/1998 4:02:00 PM
From: eddie r gammon	Read Replies (1) \| Respond to of 86076

<< Clinton had told Obuchi of the urgent need for Japan to stimulate its economy to help the rest of Asia's depressed economies. >> That should read " of the urgent need to stimulate the economies so this one don't crash and my ass gets impeached when my support fades" (g) erg

To: Joseph G. who wrote (6743)	9/22/1998 5:19:00 PM
From: MythMan	Read Replies (2) \| Respond to of 86076

>>NEW YORK (CNNfn) - Goldman Sachs Group L.P., which is in the midst of its landmark initial public offering, reported on Tuesday that its streak of record-setting profit growth came to an end in the third quarter. <Picture>In addition, the private partnership warned that adverse market conditions will hurt fourth-quarter earnings as well. The disappointing development comes as brokerage firms as a whole get ready to report their worst quarterly results in nearly four years. <Picture>The private partnership reported pretax profits of $754 million in the third quarter, a decline of 19 percent from last year's record-setting level of $932 million. <Picture>Revenues slipped 3.9 percent in the quarter to $2.14 billion from $2.23 billion a year ago. <Picture>Goldman, which recently announced plans to go public, did not specify where the trading difficulties may have occurred, but the bank has recently said its losses in Russia were minimal. <Picture>"The firm's investment banking advisory business, particularly in mergers and acquisitions, demonstrated a strong performance in the third quarter, and asset management continued its steady growth," said Goldman's Chief Financial Officer John Thain. <Picture>"Our trading and underwriting business were down from record first-half levels in an increasingly difficult environment." <Picture>"More recently, increased volatility in the financial markets, the widening of credit spreads, a decline in liquidity in certain markets, and a reduction in global equity values have adversely affected many participants in the financial services sector, including Goldman Sachs. We expect these conditions to negatively impact our fourth-quarter results," his statement continued.<< Abby been very silent lately as her firm has publicly sliced GDP growth and has a UK source leak that IPO might be delayed.