We Desperately Need New Banking
Last week, Goldman Sachs reported a nearly 30% drop in FICC revenue, far and away the largest decline among the major money dealers. That compared to -10% for JP Morgan’s FICC, and -9.3% at BofAML. There are a couple reasons for the disparity but the largest, at least what you can make out from the bank’s balance sheet, traces back [...]
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