Goldman Sachs Traders Quitting The Bank In Droves

Business Insider ^ | 07/29/2011 | Katya Wachtel

[SeekAndFind]

"More than a dozen traders have quit Goldman Sachs... North American government bonds and derivatives trading desk in New York in recent months as the bank takes fewer risks and big bonuses for ambitious traders dry up," Lauren Tara LaCapra reports at Reuters.

Apparently while salespeople have been rewarded with better compensation -- as well as promotions -- traders have largely been ignored as Goldman moves to focus on client trading.

"[T]raders who left Goldman's rates desk complained they were hamstrung by aggressive risk managers who limited position sizes and second-guessed trades," Reuters reported. "They also said they were being asked to take on more responsibilities with less pay as Goldman tries to cut costs."

[glorgau]

The horror!

[PGR88]

I have the feeling that for the past few years these “ambitious traders’” bonuses have been subsidized by the US Taxpayer and the FED.

[KarlInOhio]

How few traders does Goldman Sachs have if "more than a dozen" counts as "droves".

[Pan_Yan]

I have the feeling that for the past few years these “ambitious traders’” bonuses have been subsidized by the US Taxpayer and the FED.

I have the feeling that for the past few decades everything at Goldman Sachs has been subsidized by the US Taxpayer and the FED.