Goldman Sachs says we're in a recession

Henry Paulson's old company, Goldman Sachs is yet another high profile, highly successful business that sees a US recession.

"Over the past few months, we have become increasingly concerned that the US housing and credit market downturn would trigger not just a growth slowdown and substantial Fed easing -- our long-standing view -- but also an outright recession," Goldman Sachs said in a note to clients Wednesday. "The latest data suggest that recession has now arrived, or will very shortly."

The recent rise in unemployment is particularly worrisome, Goldman indicated.