Goldman Sachs announced that its first quarter profit was $3.46 billino—91% higher than last year—but the big numbers didn't boost its stock, which fell 12% last week after the SEC accused the firm of purposefully duping clients. Goldman's general counsel told analysts today, "We would never intentionally mislead anyone, certainly not our clients or counterparties. We certainly had no incentive to design a transaction that was designed to lose money," and Goldman CEO Lloyd Blankfein said in a statement, "In light of recent events involving the firm, we appreciate the support of our clients and shareholders, and the dedication and commitment of our people."
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