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What’s the matter with Goldman Sachs?

Naysayers, emboldened by a second consecutive quarter of pain, bemoan the bank’s inflexible approach and lack of transparency

Lloyd Blankfein, CEO of Goldman Sachs
Lloyd Blankfein, CEO of Goldman Sachs Photo: Getty Images

Something is amiss at Goldman Sachs.

The US investment bank and sales and trading powerhouse is flailing in its prized fixed income, currency, and commodities business, having reported a 40% year-over-year drop in revenues in that area for the three months to June 30. That left it bottom of the class among its Wall Street peers - for the second quarter in a row.

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