Goldman Cuts Comp to Boost Bottom Line: Cohan

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Oct. 17 (Bloomberg) -- Bloomberg Contributing Editor Bill Cohan examines third-quarter results from Goldman Sachs. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

4.6 billion and operating expenses.

A big game for the banks this quarter.

Bill cohen, bloomberg contributor.

What is the goldman sachs distinction?

Why are they different from the other two big to fail firms?

First of all, essentially a trading organization with a nice investment bank on the side tom very successful world beating investment bank on the side.

They do not do mortgage origination.

They do not do a lot of things that other banks like j.p. morgan chase and citigroup were worried about this quarter.

This is a nice beat on the bottom line, which shows the power of a wall street bank.

They can cut compensation ratio down to 41% and make a bottom- line numbers look good.

I look at the trading,,, the sisc weight lower.

Analysts expecting 1.9 billion.

A 44% slide from the second quarter it looks like.

Will these firms have to rationalize?

Would you suggest further firings in the future because of the slow client i did a? that is not the mentality at all.

They understand they are in a cyclical business, customer demand for business is inflows, depending on macro economic factors.

So they want to be right size for when the markets do take up.

With the logjam ending and washington now, i guess they have kicked it down the road.

That could unleash a lot of animals.

A lot of old think we're very well poised at this moment between low interest rates and cash around for places like goldman sachs.

Thank you.

Bill cohan on goldman sachs.

We will continue our coverage.

Good morning.


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