Matt Levine, Columnist

Busy Bankers Made Big Money

Also a Google stock split, Tesla’s funding was secured and Tindercoins.

February 2, 2022 at 6:36 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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One thing that happened at Goldman Sachs Group Inc. in 2021 is that a group of junior analysts put together a PowerPoint presentation for their managers, which subsequently went viral online, about how miserable they were from working so hard. “I’ve been through foster care and this is arguably worse,” said one analyst. Other big financial firms received similar complaints. Everyone was working really hard and they did not like it.

Another thing that happened at Goldman in 2021 is that it made so much money, and its competitors made so much money, that it paid its senior bankers and traders tens of millions of dollars in bonuses and special extra bonuses. Bloomberg’s Sridhar Natarajan and Hannah Levitt report: