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Whalen added that he thinks home prices will slide 10percentthis yearand and that the bank's chief executive, Jamie Dimon, is being "too aggressive" in decreasing the amount of money it sets aside for future losses (which boosts its bottom line).
The poor performance forced Goldman to cut its way to a decent profit, slashing the amount of money it sets aside for bonuses.
The poor performance forced the company to cut its way to a decent profit, slashing the amount of money it sets aside for pay and bonuses.
The firm does not break out how much it sets aside for them.
Now Bank of America has more than doubled the share of earnings it sets aside for employees.
By slashing what it sets aside for compensation, Goldman was able to post a decent third-quarter profit, despite the revenue weakness.
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The bank reduced the money it set aside for potential losses, adding to overall profit.
Apple quickly ran out of supplies it set aside for advance orders.
GMAC increased the amount it set aside for loan losses by 78percentto to $843 million.
Goldman cut the amount of money it set aside for pay by 9 percent for the quarter, to $2.92 billion.
It set aside for review legislation barring Mr. Shafik from running because of his senior role under Mr. Mubarak.
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