Let’s see what GS and MS ‘s earning report for the 4th quarter of 2008:
- GS: a worse-than-expected net loss of $2.12billion/$4.97 a share compared to a profit of $3.22billion/$7.01 a share one year ago; First lose since becoming a public company in 1999
- MS: a greater-than-expected loss of $2.37billion/$2.34 per share
- Slowdown in mergers and acquisitions
- Underwriting business
- Trading and principal investments business
- Fixed-income, currencies, and commodities business
