Goldman's P/E Ratio = 5.7

Wow, the trailing Price/Earnings Ratio for Goldman Sachs (GS) is 5.74.

For the year, Wall Street expects Goldman to earn $19.57 a year, then $20.57 in 2011.

At Goldman's current price, this year's earnings estimate represent 14.2%, and 14.9% for next year. The stock is just 7% above its book value.

I'm not saying that Goldman is a bargain but the market certainly doesn't have much faith in the bank's future earnings potential.