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Goldman Tumbles On Worst FICC Revenue Since Lehman, Average Employee Comp Drops To 2012 Levels
Unlike the the other banks, whose financial results have become absolutely meaningless when attempting to divind their financial conditions (although as we showed, the broad trends for the first three, JPM, Wells and BofA have been substantially lower), Goldman Sachs is a breath of fresh air because the hedge fund without deposits is unable to resort to the traditional balance sheet gimmicks used be the other TBTF banks, and the only thing that matters is its P&L.
Which is also the problem, because for those curious why the stock is currently sliding and hitting 3 month lows, the reason is that said P&L in the one most important category, FICC revenue, was nothing short of the Jefferies-hinted disaster, and at $1.218 billion, it was not only a huge miss to expectations of $1.6 billion, but was 30% lower compared to a year ago, and is the lowest FICC revenue since Lehman.
And while the FDIC-backed hedge fund may have beaten on the EPS and top line, the reason why investors are less than excited, is because as the chart below shows, the trend is most certainly not the friend of either Lloyd Blankfein or Goldman's shareholders.
The result in Goldman's own words, only $2 billion set aside in compensation accrual in Q4 - the lowest amount since the abysmal, for the company, Q4 2011.
It also means that the average compensation for any of Goldman's 34,000 workers just dropped to "only" $373,265 on a trailing 12 month basis, the lowest since Q2 2012!
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Second FX broker down!
Alpari gone....in UK...
UK regulator in talks with collapsed FX broker AlpariAfter Global Brokers went down yesterday in NZ...
FXCM had loss of USD 225m http://ir.fxcm.com/releasedetail.cfm?ReleaseID=891597&mboxSession=1421410797855-581281&visitor=2A5C80F705011E09-6000160640009A5E
GBP 30m loss at Forexmagnates.com http://forexmagnates.com/breaking-ig-group-facing-losses-up-to-30-million-after-excessive-volatility-in-chf/ Expect more banks and FX brokers to lose revenues and clients over the next few weeks....and some of them will go bankrupt!Party like its 1929!
Muppet stew recipe getting old ........
That's why they're making roasted muppet now.
Jump you fuckers!
Damn. I guess that means they'll only get a measly $1 million of our stolen loot per pirate. Poor souls.
... Average Employee Comp Drops To 2012 Levels
Awww… Poor guys! They should go on strike and demand higher wages and free Obamaphones ;-)
Looney
Actually I'm a little surprised there aren't more FX brokers....er....broke. Maybe they are just hidden in the weeds. Time to cut some brush.
Also the Swiss online bank "Swissquote" is having some troubles.
Not sure how to read their announcment.
25 million CHF provisions.... is that a certain percentage that they don't expect to get back from bankrupted clients? What would be the total "negative balance" of "the clients"???
And put 25 million CHF provision in context with 145 million CHF "record" revenues and pre-tax profit of 28 million CHF for 2014...
http://www.swissquote.ch/sqw-group-resources/doc/pdf/press/press_release...
China Continues To Drain Global Gold Inventory https://www.bullionstar.com/blog/koos-jansen/china-continues-to-drain-gl...
It's getting harder to do God's work these days.
But CNBS says it's all rainbows and unicorns..
http://www.cnbc.com/id/102337917
don't worry about blankfein bitchez, he got plenty
All rise for Lord Bank Fine. HAIL!
the "bank" holding company is the moist connected squidly enterprise in the whole world. too big to fail, too connected to jail, able to extort trillions at a single congressional hearing.
I see God pays pretty good.
#Paris
now 3 Hostages:
French police on Thursday night arrested 12 people suspected of helping a gunman in last week's shootings in Paris, local media reported Friday.
Latest:
http://tersee.com/#!q=paris&t=text
Yeah, but not a down day for how many days running in a row. Those fat, blue-eyed, white fucks are probalbly meeting this morning to figure out a new way to fleece the middle class.
same as it ever was
Time for belt tightening...crack instead of coke and street walkers instead of escorts. The pain of bad policy reaches even the low level banksters.
Nahhh.. Make em sniff glue and blow each other to save on the crack and hookers.
Im glad the US does not include hookers amd blow in their GDP assessment. Otherwise, the hooker amd blow index would take a serious hit especially in NYC.
There's no more money to skim from the muppets. Soon it will be time for them to go all in and pillage what's left.
It couldn't have happend to nicer guys.
This is why we are seeing the big up and down days..so the traders can play....and make money....you can make money on a 400 point swing...especially if you are doing the swinging...I hope that soon those Fixed incomes become huge losses as interest rates skyrocket as our fiat fails....
Was listening to Bloomberg radio when the Goldman news broke and they were gushing over the results and how Goldman was so much better than the other Wall Street firms. This was coming from Mr. Bow Tie. Wonder if he is banging Lloyd?
stateside
Boo freaking hoo.
... Q: How bad is the economy in the US?
... A: Goldman Sucks had to lay off 5 congressmen and two senators.
And that while their 'Fraud Model' worked so well.
And now Jamie is crying like a little baby, "I am being attacked" by honesty.
Jump bankster jump. Q99X2 will catch you.
Right, with my camera bitchez.