Goldman Profits Big While Its Clients Lose on Goldman Advice
Bloomberg released and interesting article today concerning Goldman’s performance last quarter. We have documented here many times that the four major banks, including Goldman, did not post a single losing day in the market last quarter. Conversely, Goldman’s clients, according to the article, lost as much as 14%, as seven of the firm’s nine “recommended trades for 2010” have been money losers.
The corruption is so blatant and yet little is done to enforce justice. Excerpt below: