Goldman Sachs profit drops 52% on trading decline

http://www.youtube.com/watch?v=jHjFxJVeCQs

matson that just gave me a good laugh....and I needed one today.

:-))

They deserve it. After all, they are doing "God's work!" Fifteen point four billion is just about right!

http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6907681.ece

Two reasons.
1)Despite what they said heard earlier from customers THIS IS fallout from ABACUS. Customers do not trust Goldman
2)The current environment is such that the sell side can't take the same risks they did pre-bubble.

..and how's jpm doin ;)

At this point in time..
JP Morgan holds more cards.

oh no! hope that doesn't affect bonuses.

Yesterday in the NY Times there was an article about how the broad % of top goldman sachs employees had received huge option distributions in the crisis of 2008 at something like $78. Many of those options were able to be exercised recently and the rest at two future dates.

The extreme cynic in me wonders if GS isn't engineering their results a bit to take all the recent media heat and public attention off them -- See, they are not making money!!!. They used ridiculous language on the conference call, basically asking all sentient beings to sell the stock. Something is not right. These are smart guys. The losses are extreme given the QE2 put.

Then, as I was trying to find yesterdays article in the NYTimes, to post here, it wouldn't open. Cue Twilight Zone music.
Study Points to Windfall for Goldman Partners
Goldman Sachs executives have long been among the most richly paid on Wall Street in the best of times. They are now poised to reap a ...
January 18, 2011