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Sunday, September 21, 2008

GoldmanSachs and Morgan Stanley are having a wee bit of a problem

I'm technically on hiatus, but this news bite was too sweet to pass up:

"Morgan Stanley has taken $15.7 billion of writedowns and losses on mortgage-related securities and other types of loans since the credit crunch started last year. Goldman's tally stands at about $4.9 billion... their revenue from sales and trading and investment banking have been declining this year...Goldman, in particular, has been remarkable for the high bonuses it pays to its employees. Goldman's CEO and two co- presidents were each paid more than $67 million last year."


Failing up. Kind of like going short?

Posted by GBH at 9:14 PM

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