But getting new jobs might not be that easy.
Goldman Sachs, which generated about half its revenue from trading last quarter, posted losses from that business on six days in the second quarter, unchanged from a year earlier.
Risky investments caused losses of about $12.2m
When Goldman Sachs President Gary Cohn recently addressed first-year analysts while his boss, CEO Lloyd Blankfein, got stuck talking to the firm’s lowly interns, the rumor mill inside the big Wall Street firm began to churn over whether this was a sign that Cohn was about to get the job he has longed coveted and run the famed investment bank.
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Debarring Goldman Sachs would be huge news.
If you think things are bad now, just wait - they may be about to get worse.
Bank of America traders fought off efforts by the firm in 2007 to include risky Alt-A mortgages in a securitisation, but that wasn’t enough to spare investors from being cheated, according to the U.S. government.
JPMorgan Chase has said it’s under federal criminal investigation for practices tied to sales of mortgage-backed bonds that the Justice Department has already concluded broke civil laws.
Diamond comes out of the rough.
Jamie Dimon, chairman and CEO at JPMorgan, sat down with host Stephanie Ruhle on Bloomberg TV's new flagship morning program, Bloomberg GO.
You don't necessarily think of Warren Buffett as a guy with bad luck, but IBM earnings keep doing him wrong.
The Securities and Exchange Commission has announced that two UBS advisory firms have agreed to settle charges arising from their roles in failing to disclose a change in investment strategy by UBS Willow Fund LLC, a closed-end fund they advised.