Low interest rates have been good for Goldman Sachs.

Peter Eavis, for the Wall Street Journal recently noted this:

All banks benefit from the Federal Reserve’s zero-interest-rate policy, but Goldman Sachs Group appears to be benefiting more than most. [Bank News Now editors note: does that surprise anyone?]

The Wall Street firm’s filing on Wednesday contained an eye-popping number: The interest rate on its long-term borrowing was a minuscule 0.92% in the third quarter, down from 3.53% in the third quarter of 2008…

So, what does this mean?  As the everyday consumers like you and me is squeezed out of credit — or when we do get it we pay dearly for it because we missed a single payment in 2005 — companies like Goldman Sachs pay 0.92% to borrow money for the long-term.

Furthermore, Goldman Sachs is in an opportunity to grow and grow and then grow some more and provided they make good bets, they can grow practically for free.  They can just borrow whatever they want for whatever acquisitions they want and are able to pay next to nothing for it.

Think about that the next time you get your credit card statement and pay a 22% APR.