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00:00That's because we have a hear less about the big Wall Street banks for a second. We just scoop here on the Bloomberg that Goldman Sachs and their markets division that consumer push is actually losing their money. We were talking about it in break. What do we know about how they're losing money on this. It's really interesting because you do see Goldman Sachs really expanding Marcus significantly. Thirteen million customers. One hundred billion dollars with the deposits. But yes as true that nitrogen broke today it is losing more money than initially expected. So what analysts and investors are looking for is for this Goldman business to really turn the corner here. But remember a double edged sword it is expensive to get into the lending business. A lot of the big consumer banks also are facing tougher macro economic environment ahead. But it does also lower the cost of funding for Goldman Sachs. So are they going to make this big strategic pivot in the way that we've seen other banks for example Morgan Stanley have done in the past. The Morgan Stanley's consumer division leans more by way of wealth and less by way of deposits and loans as you see over at Goldman Sachs as they're trying to build.

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Goldman Sees Consumer Business Losses Topping $1.2B

Goldman Sachs Group's internal projections show the consumer business losses accelerating to more than $1.2 billion this year, according to people with knowledge of the matter. Sonali Basak has more on "Bloomberg Markets." (Source: Bloomberg)

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