The Bankwatch

Tracking the consumer evolution of financial services

oops – there was another $5 Bn that we lost but failed to report | Goldman Sachs

It just gets worse for GS. 

Goldman reveals fresh crisis losses | ft.com

Goldman Sachs has revealed details of about $5bn in investment losses suffered during the crisis for the first time this week, in a move that will deepen the debate over companies’ financial disclosures.

The figures, issued as part of internal reforms aimed at silencing Goldman’s critics, show that the bank suffered $13.5bn in losses from “investing and lending” with its own funds in 2008.

But Goldman’s regulatory filings and its executives’ comments to investors at the time pointed to about $8.5bn of losses arising from its investments in debt and equity, as markets were rocked by the turmoil.

Written by Colin Henderson

January 13, 2011 at 22:55

Posted in Uncategorized

%d bloggers like this: