4 ms·
$550 million sounds like a big number but it represents less than 6 days of trading profits to Goldman. It was a drop in the proverbial bucket. http://seekinga
by lefstathiou 16y ago
$550 million sounds like a big number but it represents less than 6 days of trading profits to Goldman. It was a drop in the proverbial bucket.
http://seekingalpha.com/article/135785-goldman-sachs-why-aren-t-trading-profits-raising-any-red-flags http://seekingalpha.com/article/135785-goldman-sachs-why-are...
- yummyfajitas 16y agoReporting it as a fraction of trading profits is a confusing thing to report. After all, Goldman has lots of non-trading costs: buildings, salaries, software licenses, vendor payments, etc. It was actually 15.5 days of profits for Goldman, plus the $90 million Goldman lost on the deal itself. (Goldman wasn't just a perpetrator, they were also one of the victims. If you believe the SEC, Goldman helped Paulson to defraud themselves as well as others.)
- phlux 16y ago>If you believe the SEC, Goldman helped Paulson to defraud themselves as well as others. CYA