Bumper Q3 profits at Goldman Sachs and another loss for Citigroup on Thursday highlighted the gap between the financial resilience of Wall Street and the woes of Main Street. Goldman announced near-record earnings of $3.2bn, boosted by surging profits in bond and currency trading; Citi, by contrast, suffered its seventh loss in eight quarters, announcing credit losses of $8bn in the quarter, largely in its consumer business, for a total loss of $0.27 per share. See also Lex, here, and FT Alphaville on Goldman, and here, on Citi.

This entry was posted by Gwen Robinson on Friday, October 16th, 2009 at 5:00 and is filed under Capital markets. Edit this entry.