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Rocky markets hurt Goldman profits in 4th quarter

Associated Press

  January 19, 2012

Wall Street isn’t used to being underwhelmed by Goldman Sachs. But even the powerhouse investment bank, which usually posts stellar results that leave its rivals in the dust, wasn’t immune to the rocky financial markets at the end of last year. The bank’s net income for the last three months of the year fell 58 percent from a year earlier because of lower investment banking fees. The results beat Wall Street expectations but put Goldman in line with what it would consider ordinary banks.

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