Goldman Sachs risk disclosures did what they were supposed toAaron Pressman
Sometimes, the short tenure of finance reporters or bloggers creates confusion, such as the coverage of risk disclosures by Wall Street firms like Goldman Sachs (Symbol: GS) over the past few days. Some of the current bunch, it seems, were not a-splash in these waters 13 years ago when an unexpected, sharp rise in interest rates led to a series of derivatives-related miscues (to put it mildly) and surprise losses at corporate stalwarts like Procter & Gamble and Eastman Kodak as well as the bankruptcy of Orange County, California.
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