Never a good call.
Goldman Sachs had to write down its loan to the troubled Portuguese bank Banco Espirito Santo in the fourth quarter, cutting the bank's profit and some employees' bonuses, people familiar with the matter told Reuters.
On Christmas Eve, a group of senior Goldman executives held a conference call to discuss the writedown and how it would affect employee bonuses, people familiar with the matter said.
About 15 to 20 people worked on the Banco Espirito Santo deal, but because of the way Goldman structures its bonuses, up to 50 people in the broader group will be affected.
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