Goldman Drops $12.4bn

Here's a few random facts:

The $23.57 fall in Goldman's share price Friday represented the largest-ever one day dollar fall incurred by the firm since it went public in 1999.

The value of Warren Buffett's options to purchase Goldman shares fell by $1.02bn Friday, although the financier won't be fussed, as he is a long term investor.

Goldman's 12.79% stock fall Friday translated to a loss of around $12.4bn in the value of the firm's market cap. Bank of America's market cap fell by $10.7bn, JPMorgan Chase $9bn, Citi $7.1bn. Collectively, some $57bn was wiped from the value of big US bank stocks Friday.

Finally, and to get things into perspective, even if found guilty of fraud (which is thought highly unlikely be many), the size of any penalty likely to be imposed on Goldman should be considerably less than $100m - significantly less than the $12.4bn wiped off the value of the firm's shares Friday.

Sources - Bloomberg, Fox Business News, The New York Post, The New York Times

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