(Rueters)-Goldman, the first major U.S. bank to report second-quarter results, said trading income nearly doubled from a year ago, while its equity underwriting business produced record revenue of $736 million. Goldman's traders thrived in an environment of wide price swings, robust demand and fewer rivals. "There's less competition out there," Chief Financial Officer David Viniar told reporters in a briefing.
That puts the average Goldman employee on pace to earn more than $900,000 this year. Chief Executive Lloyd Blankfein, senior officers and star traders will likely receive tens of millions of dollars.
Paleeezze, families are having to live in tents out there and we get this "in your face" stuff. There aught to be a law ....
Tomorrows pick is long XLF @ 11.85 Good Luck!
