Goldman Made Between $11 And $16 Billion In 2009 Trading CDS And Other Derivatives

Tyler Durden's picture

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doomandbloom's picture

could someone intercept info from JP Morgan pls?

King_of_simpletons's picture

Hey atleast he convinced a bunch of wealthy folks to give away 50% of their wealth to charity.... in paper .... but who is really checking if they will do it.... The peasants can eat cake.

RossInvestor's picture

GS must think the FCIC fell off the proverbial pumpkin truck to believe that whopper of a lie about its accounting system!!  I guess we are to believe an ulta-sophisticated firm such as GS uses Quick Book Pro and their CFO and their Accounting Department are complete morons.

I am a Man I am Forty's picture

my thoughts eggggsssactly!

"wow, not sure how we made those billions of dollars, it's a mystery, I know we can develop HFT programs that can game the market and flash quotes in milliseconds, but damn, don't have a clue where we are making all this money."

sell crazy someplace else


Fritz's picture

Meet the new Boss - same as the old boss.

GS will continue to siphon money from the system. Its only a question of how.



MountainHawk's picture

All hail Lord Goldman!

Hansel's picture

$16B from $49T?!  0.03% of notional outstanding was profit?  It wouldn't take much of anything to blow that book up, it seems.  One little baby, mildly grey swan and boom.  Of course, I'm sure you can hedge $49T pretty easy so it nets out... right.

Getagrip's picture

How much will their stock, earnings, and cash hoard be worth with the FRN at zero? Probabley a Gazillion!! Problem is, you won't be able to even buy toilet paper with it.

ZackLo's picture

when the shit hits the fan I'm going to be making rolls of hamiltons, and using them as toilet paper.....if we still have that denomination....I wonder whos face they'll put on the 10,000,000$ FRN. I vote GREENspan. he sure lived up to his name...

TraderTimm's picture

In the novel "Snowcrash" it was trillion-dollar Ed Meeses. Maybe Quadrillion "Bennies" would fit better.


Clycntct's picture

Thanks for that link +++

Man does that ruin my Saturday night. Talk about pissed.

I got steam coming out my of my ears.

Oswald Spengler's picture

Jews making money. Whoda thunkit?

carbonmutant's picture

"The irony is that the Volcker Rule seems to focus almost exclusively on equity trading, while the bulk of the firm's questionable flow-prop "Chinese wall" transgressions may occur precisely in derivative trading..."

I'm not sure irony is the right word... considering the level of lobbying that went into that rule.

Remington IV's picture

it's a conspiracy