2min chapter

The Compound and Friends cover image

What's Really Going On At Goldman Sachs?

The Compound and Friends

CHAPTER

The Bifurcation of Wall Street

I think if Goldman doesn't know how to telegraph, it's tough quarter to investors than nobody does. JPMorgan Chase putting up $14.5 billion of net income in the second quarter on track for an absurd $15 billion a year. They pay nothing on that money, literally 0.1 basis point or two basis points. So literally they're getting it for free. And then they can lend it out at big spreads and it just all drops to the bottom line.

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