Goldman 1Q Profits Plunge 60%

The transcript discusses the challenges faced by major banks like Goldman Sachs, Morgan Stanley, and JP Morgan in a tough economic quarter. It highlights the impact of reduced trading revenues, the importance of diversified revenue streams, and the ongoing struggle with compensation and expense management. The discussion also touches on the limitations imposed by the Fed on M&A activities among big banks.

What were the estimates for trading revenue cut down to?

How did Goldman Sachs perform compared to Morgan Stanley in fixed income trading?

What challenges did the operating environment present for Wall Street banks this quarter?

What was the percentage drop in trading revenue for Goldman Sachs?

What does the term 'Goldman exceptionalism' refer to in the context of this discussion?

How have analysts adjusted their estimates for the banks' performance?

What is the significance of the compensation ratio mentioned in the discussion?