Goldman lost money on two trading days: filing

[Poboy]

Source: Reuters/Yahoo News

By Maria Aspan – Tue Nov 9, 5:54 pm ET
NEW YORK (Reuters) – Goldman Sachs Group Inc (GS.N) lost money on only two trading days during the third quarter, despite an industry-wide slump in trading volumes, according to a regulatory filing published on Tuesday.
The Wall Street firm lost no more than $25 million on two separate days, it said in a filing with the U.S. Securities and Exchange Commission. It made between $75 million and $100 million in net trading revenue on 24 different days and made over $100 million on seven days.
Rival Bank of America Corp (BAC.N) said in a filing last week it turned a profit during every trading day during the third quarter -- but on more than 25 of those days, it was making between $25 million and $50 million. It recorded more than $100 million in net trading revenue on less than five days in the quarter.

Read more: http://news.yahoo.com/s/nm/20101109/bs_nm/us_goldmansachs_foreclosures

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Rigged market?

[aquart]

1. Why, yes.

[abelenkpe]

2. Yes

Goldman's high frequency trading program allows them to skim off every trade. Why they are still permitted to do that is beyond me.

[bluedigger]

3. No.

They're geniuses and Masters of the Universe.

[glinda]

4. They will get your money any which way. Who are the winners when they claim

such losses. Whose pockets do they fill?

[Rage for Order]

5. Good thing we taxpayers bailed them out

I don't know how they would have managed otherwise

:eyes:

[ArcticFox]

6. Gamed market

[Amonester]

7. The dice are piped. n/t

[Vidar]

8. At least the mob boys hired decent entertainers. These bankers couldn't even manage

that redeeming virtue.

[sarcasmo]

9. Government Sachs, controlling the system through their cronies in Government.

RIGGED!

[PufPuf23]

10. Rigged Market? Yes

The program traders play volatility and bleed capital into their own accounts because of engineered return-risk in their favor.

A transaction tax would dampen this effect but won't happen. Financial Reform is as real as the re-instatement of Glass-Steagall (not much).

[w4rma]

11. So instead everyone has to pay the "Goldman Sachs tax" to play Wall Street.

Because a small portion of everyone's stock trades go to Goldman Sachs.

[sarcasmo]

12. Kick back to the Top. This company should have been left to fail but to many Government

employees have gone through the Government Sachs revolving door.

[fascisthunter]

13. indeed... Wall Street and our Government are one and the same

[Octafish]

14. Issa koisedanz.

Small wirlt.

An al gore rhythm.