Goldman lost money on two trading days: filing

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?

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

They're geniuses and Masters of the Universe.

such losses. Whose pockets do they fill?

I don't know how they would have managed otherwise

:eyes:

that redeeming virtue.

RIGGED!

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).

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

employees have gone through the Government Sachs revolving door.

Small wirlt.

An al gore rhythm.