Cohn Says Goldman Sachs Reaps No Benefits From JPMorgan’s Loss

JPMorgan Chase & Co. (JPM)’s $2 billion trading loss doesn’t help Goldman Sachs Group Inc. or the rest of the banking industry, Goldman Sachs President Gary Cohn said.

Bankers do best when their industry is well-respected, Cohn, 51, said in an interview today with Erik Schatzker on Bloomberg Television’s “Market Makers.” JPMorgan, the biggest U.S. bank, has done a good job disclosing the loss and dealing with the fallout, Cohn said. Both companies are based in New York.

To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net

To contact the editor responsible for this story: Rick Green at rgreen18@bloomberg.net

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