The traders will get bonus for losing, they work hard for the money.
Wall street Greed built the American Greed
Goldman Sachs Group Inc. (GS), which relied on trading for 62 percent of revenue so far this year, recorded losses from that business on 21 days in the third quarter, the most since the fourth quarter of 2008.
The firm’s traders lost more than $100 million on one of the days, according to the New York-based company’s quarterly filing with the Securities and Exchange Commission.
They produced more than $100 million on nine days out of 64 total days in the quarter that ended Sept. 30, the filing showed.
Goldman Sachs, the fifth-biggest U.S. bank by assets, last month reported its second quarterly ... (full story)