Goldman Sachs Struggles to Navigate the Markets<br />While others warned that the period would not be as good as a year earlier — basically because fewer freaky things happened in the market — JPMorgan<br />and Citigroup reported revenue shrinkage in their equivalent divisions less than half as severe as Goldman’s.<br />Mr. Blankfein’s push into retail banking is still in its infancy, but the 20 percent-plus returns on equity<br />that other consumer lenders manage — more than twice what Goldman reported last quarter — suggest that is a promising new direction<br />The answer is Lloyd C. Blankfein at the rival Wall Street firm Goldman Sachs, which on Tuesday reported<br />a 40 percent year-on-year slump in revenue from trading bonds, currencies and commodities.<br />Last quarter, the firm’s dire fixed-income performance was offset by strong equities trading<br />and a $1.2 billion slug of revenue from equity investments that Goldman holds on its own book.
