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The ex-VP told jurors that the energy trader's wholesale division raked in $3.8 billion in profit in the first three quarters of 2001.
Traders in this division create investments that track specific financial assets, like a basket of company stocks.
Goldman is considering several options, including moving the traders to another division or shutting the unit altogether, according to people briefed on the matter.
According to former traders in the division, there were often only a handful of real trades in a month -- if that.
Unnecessary disposal of fresh food continues, and the efforts of dumpster divers at chains like Trader Joe's (a division of Germany's ALDI) hardly dent the issues behind food waste.
The discovery of Native Americans by European traders enabled a new division of labour between the two continents.
His main challenge lies in the firm's fixed-income division, where traders deal in bonds, derivatives, currencies and commodities.
Earlier this year, Royal Bank of Scotland found itself having to defend the way commodities traders in its Sempra division were being paid to minimise income tax and national insurance contributions.
The scope of the inquiry suggests that the problems were isolated to a handful of executives and traders in an overseas division, and did not reflect a fundamental weakness with the bank's culture and leadership.
We view this as indirect evidence that information may leak from the investment banking (or corporate finance) division to traders within the same brokerage house.
"These firms are moving their traders into their asset management division because they recognize that these traders can no longer engage in prop trading but rather must trade on behalf of customers -- who can exercise real market discipline on those traders.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com