And it is about time!
Raw Story:
Investment bank Goldman Sachs made $100 million or more trading on the stock market on each of 46 trading days in the second quarter on 2009. In all, the company made at least that much money on 71 percent of the days it was doing business.
And the company revealed Wednesday that the US government is investigating its controversial compensation practices, and, perhaps more importantly, its trading in derivatives -- the financial instruments widely blamed for last year's financial collapse.
According to a report at Bloomberg news service, Goldman's profits are an all-time record -- beating the previous record, 34 days of $100-million profits, set by Goldman in the previous quarter.
Goldman, a major beneficiary of last fall's bank bailouts, by some accounts now controls half of all the program trading (computer-based automatic trading) done on Wall Street.
No comments:
Post a Comment