From the Wall St Journal: In a sign of the pain rippling through the financial system from Wall Street to Main Street, investment-banking giant Goldman Sachs Group Inc. on Tuesday posted a rare quarterly loss while Bank of America Corp. lost its title as the nation's biggest bank as it pared back its struggling consumer empire.
Results at Goldman were hammered by falling stock and bond prices and soft merger activity. The slowdown starved its once-roaring trading engine and sent Goldman to its sixth straight year-over-year drop in quarterly revenue.
Bank of America posted a third-quarter profit, reversing a year-ago loss. But the results were ...
Find out more at http://online.wsj.com/article/SB10001424052970204479504576638653920110530.html?mod=business_newsreel
No comments:
Post a Comment