Monday, May 10, 2010

Goldman Sachs Made Money Trading, Every Single Day

How do you like this statistical impossibility?

Goldman Sachs Has First Quarter With No Trading Loss
(5/10/2010 Bloomberg)

"May 10 (Bloomberg) -- Goldman Sachs Group Inc.’s traders made money every single day of the first quarter, a feat the firm has never accomplished before.

"Daily trading net revenue was $25 million or higher in all of the first quarter’s 63 trading days, New York-based Goldman Sachs reported in a filing with the U.S. Securities and Exchange Commission today. The firm reaped more than $100 million on 35 of the days, or more than half the time." [The article continues.]

I am sure GS and the fellow Wall Street banks and their hedge fund friends have been playing it perfectly since last Thursday, raking in collective tens of billions.

Now that the EU has offered up to $1 trillion for them to take, they are all set, aren't they? Helicopter Ben will make sure of it by unlimited currency swaps. Oh happy days are back again.



Post a Comment