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Matt Levine

Goldman Executives Want to Get Paid

Also Trump SPAC, Block and having your art and selling it too.

Programming note: Money Stuff will be off tomorrow, back on Monday.

I used to work at Goldman Sachs Group Inc. and part of my job was to do large trades with corporate clients. These trades had positive expected value to Goldman (otherwise why do them?). Sometimes Goldman did 100% of the trade with the client; other times we had to split it with other banks. It was desirable to have a piece of the trade, and we generally tried to get 100% of it, because, again, positive expected value. A thing that never happened in my time at Goldman was this: