Skip to main content

Turns out all of those grumpy Goldman Sachs old timers warning about the dangers of coddling the bank’s snowflakes (who aren’t even coming into the fucking office, for heaven’s sake!) were right.

In the final three months of 2021, Goldman’s profit dropped 13 percent from the previous year to $3.94 billion, or $10.81 a share, falling short of analysts’ expectations…. The bank reported “significantly higher compensation” expenses, which rose 33 percent in 2021 compared with a year earlier…. “There is real wage inflation everywhere in the economy — everywhere,” [CEO David] Solomon said.

Yes, but David: Goldman isn’t supposed to be like everywhere in the economy. It’s supposed to be like Goldman Sachs. Not that you’d understand.

Profit fell 13 percent for Goldman Sachs in 4th quarter as it raised employee pay. [NYT]

Related

DJ D-SOL

It’s Like We Don’t Even Know Who Goldman Sachs Is Anymore

More transparency? To attract investors? What is this, Bank of America?

DJ D-SOL

Pearl Jam, Beastie Boys, Metallica, Kanye West, Radiohead, Foo Fighters, D-Sol

The Goldman Sachs CEO prepares to do what Nirvana never did.

DJ D-SOL

Bonus Watch ’21: Up-And-Coming Local D.J.s

David Solomon better hope Lollapalooza pays well if Glass Lewis gets its way.

DJ D-SOL

D.J. D-Sol Working On Cutting Dis Track About His Own Commodities Traders

The Goldman chief is preparing to take out his frustrations upon them.

DJ D-SOL

D.J. D-Sol’s Sick Beats Draw $20,000 Fine

Also there was something about being a coronavirus superspreader event or some such.

DJ D-SOL

Unnecessary Bonus Watch ’21: David Solomon

He doesn’t need the extra $50 million to stick around, but the board’s giving it to him anyway.

DJ D-SOL

David Solomon Delivers Economic Reopening Advice President Wouldn’t Hear Even If He Had Been On The Call

“Rebuilding confidence in safety and security” is sort of the opposite of the president’s modus operandi.