Word: goldmans
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Dates: during 2000-2009
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Morgan, on the other hand, estimated the most it could lose on its daily trading desk on any given day was $114 million, or less than half of what Goldman could lose. And Morgan is in the process of eliminating nearly all of the trading it does for its own account, which means how much it risks in the market each day should continue to drop...
Still, it's clear that Morgan has taken a different road out of the financial crisis than its closest rival, Goldman Sachs. In the past year, Goldman has dramatically ramped up its trading desk. That move has led to big profits in the past year but the firm has also opened itself up to bigger losses should its traders get things wrong. Based on its trading activity now, Goldman says it could lose as much as $250 million in a day should its bets go wrong, up 30% from a year ago. What's more, even though Goldman has become...
...Morgan, unlike Goldman, seems to be really interested in building up its deposit base. Last year, the firm hired former Wachovia executive Cece Sutton to run its retail-banking division. Last month, Morgan said it would soon be adding more employees in Charlotte and New York to help expand its banking operations. Already the bank has nearly tripled its customers' deposits to just over $100 billion...
...Rich I was deeply saddened by your article on Goldman Sachs [Aug. 31]. Their behavior is disgusting at a time when we ask young men and women to risk and give their lives in Afghanistan, and I am disappointed you published a story that attempts to justify the venal acts of the megarich. The article was little more than a crude whitewash for the CEO of Goldman Sachs, whose remuneration is so out of touch with the reality of everyday young people, especially those who lost their jobs in a recession that was brought about by the deeds...
...Rage Over Goldman Sachs" [Aug. 31]: I will take CEO Lloyd Blankfein's word that he is shocked by the perception that the firm "burned down the Reichstag, shot the Archduke Ferdinand and fired on Fort Sumter." What a relief that is. Nevertheless, many of us are still wondering if Goldman Sachs' former employees who now hold influential government positions have unduly influenced national economic policy to Goldman's advantage. It is also high time we discovered whether Goldman's astronomical profits are the upshot of its alleged ability to perpetuate sophisticated market manipulation and fraud. These are real questions...