Is Goldman new king of the Street?

NEW YORK: Goldman Sachs is emerging as the king of post-meltdown Wall Street.

Already the most powerful US financial company before the credit crisis, the bank profited handsomely from Wall Street's rally and the recovering credit markets during the second quarter and distanced itself from the few competitors still standing.

The result was a stunning profit of $2.7 billion - even as the bank repaid $10 billion in federal bailout money. The total blew past what Wall Street analysts were expecting.