Word: goldmans
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...bonus. Instead, Cantor is offering to pay most of its new employees in full each month, rather than holding a good chunk of their pay until the end of the year. "There is just too much variability in year-end pay," says Martin Teevan, who joined Cantor & Co. from Goldman Sachs in December, and is the head of high yield and distressed bond trading. "There is a lot of concern that no matter how well you do at Big Bank XYZ, you just won't get paid...
...question of the week. Just a few months after the near meltdown of the financial system, Citi, JPMorgan Chase and Goldman Sachs all reported billion-dollar-plus profits for the quarter ending March 31. Wells Fargo, which won't be releasing its earnings numbers until next week, preannounced on April 9 that it made about $3 billion - a record for the firm. (See pictures of the dangers of printing money...
...investment banks, hedge funds and private-equity firms has taken business from conventional banks. Now much of that shadow banking system is gone, and the surviving banks - battered as they may be - are gaining market share in everything from mortgage lending to investment banking. As Wells Fargo shareholder and Goldman Sachs bondholder Warren Buffett put it on CNBC in early March, "This is a great time to be in banking, you know, if you just get past the past...
...nice to forget December. Investment banks traditionally end their fiscal year in November, commercial banks in December. Since Goldman Sachs and Morgan Stanley shifted to commercial-bank status late last year, they decided to shift their fiscal years starting this year. In doing so, they orphaned the month of December 2008. For Goldman, it was revealed this week, that meant saying goodbye to $780 million in losses that will never show up on the bottom line of an earnings report...
General Growth owes billions of dollars to Citigroup (C), Deustsche Bank (DB), and Goldman Sachs (GS). It is very likely that every large money center bank and investment house has loaned money to commercial property owners because not so long ago the value of these assets was rising sharply every year...