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What if all businesses screwed us like Goldman-Sachs?
May 4, 2010 by prof77
Posted in Economics, trade and business, financial crisis, fraud, Harm, pain and hurt, humor | Tagged arrogance, collapse, corruption, deception, fraud, Goldman Sachs, insurance, self-serving | 1 Comment
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… We’d all be bazillionares. You can’t loose!
Here’s a link showing Goldman’s Q1 Trading Net Revenues Distribution. Literally… they CAN’T loose. Not only did they NOT loose ANY money 63 out of 63 days, but the LEAST amount of money they made on any of those days was $25 Million.
Coupled with the abysmal volume seen during said time frame and the main players, we can easily surmise where nearly all of that money is coming from.
Greatest transfer of wealth indeed…
http://www.sec.gov/Archives/edgar/data/886982/000095012310046612/y84220e10vq.htm
In case you’re wondering, ~%81 of non-interest revenue (%76 of total revenue) came from trading. Obviously, GS is the house.