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The Goldman Sachs Bonus Collapse Is Underway
Business Insider ^ | 07/19/2011 | Katya Wachtel

Posted on 07/19/2011 7:37:03 AM PDT by SeekAndFind

Goldman Sachs released some disappointing earnings numbers this morning.

In the report were details of the drop in compensation costs.

According to the report, compensation expenses -- which includes salaries, bonuses and benefits -- fell to $3.2 billion for the second quarter of 2011.

That represents a big 16% decline from this time last year.

Compare that to Q1 compensation costs this year, which clocked in at $5.23 billion and was only down 5% compared to Q1 2010.

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Society
KEYWORDS: bonus; goldmansachs

1 posted on 07/19/2011 7:37:06 AM PDT by SeekAndFind
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To: SeekAndFind

Cry me a river.


2 posted on 07/19/2011 7:41:29 AM PDT by paddles ("The more corrupt the state, the more it legislates." Tacitus)
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To: paddles
From Zero Hedge

No point in discussing Goldman's abysmal earnings. Here is the chart that says it all.

Total Revenue by Segment - this is the worst quarterly revenue for the firm in years. The biggest loser: Institutional client flow AND Prop (Investing and Lending).



IN TABULAR FORMAT:

3 posted on 07/19/2011 7:46:43 AM PDT by SeekAndFind (u)
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To: paddles
The reason for all of this - the massive collapse in VaR, as Goldman somehow loses its edge which oddly parallels the unwind of the firm's proprietary trading division.


4 posted on 07/19/2011 7:48:21 AM PDT by SeekAndFind (u)
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To: SeekAndFind

BOHICA America, here comes the bailout, GS has too many friends in government.


5 posted on 07/19/2011 7:50:40 AM PDT by dfwgator
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To: dfwgator
Goldman Sachs has lost its magic ( or did they ever have it without Government help?)...

From ZERO HEDGE

Goldman's FX Team Generates 40% Annualized Loss For Clients Per Its Latest Disastrous Recommendation
6 posted on 07/19/2011 7:53:24 AM PDT by SeekAndFind (u)
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To: SeekAndFind

Oh for crying out loud, those leeches made their own bed, they can lie in it.


7 posted on 07/19/2011 8:05:30 AM PDT by Fido969
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To: SeekAndFind

How much of Goldman Sachs’ problems are from a change in perception of what having “friends in government” means. It used to mean that you paid GS more, but then investments would go smoothly becuase of GS’s friends in government would help both GS and its customers. Does it now mean that the GS customer is likely to get screwed for the benefit of GS because those same friends in government that GS has cultivated (including rotating GS execs through the Department of Treasury) will support GS over anyone else?


8 posted on 07/19/2011 8:05:46 AM PDT by KarlInOhio (The Dems demanding shared sacrifice are like Aztec priests doing it while cutting out my heart.)
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