Goldman posted no less than $25 million in net trading revenue every day during the quarter, according to its 10-Q regulatory filing. For the first time in its history, it reported no net loss on any day.
“This is the first time we have reported zero trading loss days in a quarter,” Samuel Robinson, a Goldman Sachs spokesman, told Bloomberg via e-mail. “We believe it shows the strength of our customer franchise and risk management.”
Goldman Sachs 10-Q filing
The breakdown, on page 121 of the 10-Q, is as follows:
7 days at $25 million to $50 million
50 days at $50 million to $75 million
16 days at $75 million to $100 million
35 days at more than $100 million
Goldman's successes were matched by JPMorgan, who averaged $118 million PER DAY in the previous quarter.
At least we know our government's economic policies are working out for someone. But this kind of success doesn't come free. Since 1990, Goldman Sachs has given over $31 million to political candidates, with Democrats receiving the lion's share of the booty (64%). Obama leads the pack as the largest receiver of Goldman donations, with a little over $1 million.
Talk about a great investment by Goldman: $31 million donated over 20 years, and now they're making well over $31 million per day.
Now you know how to do it. You too can be successful in America, all it takes is $31 million to buy senators, congressmen, and a president or two.
It's really a bargain, when you think about it.
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