Goldman Sachs Reports Quarterly Loss of $2.12 Billion, First Loss Since Going Public in 1999

Financial giant Goldman Sachs has reported their first quarterly loss since going public in 1999, surprising analysts with a massive $2.12 billion loss.

The quarterly loss was for the period ending in November, a time when several of the world’s largest investment banks were hammered by the global financial crisis.

Goldman Sachs and Morgan Stanley were among the few Wall Street investment banks to survive the crisis and remain independent entities following the financial bailouts passed by the U.S. Congress.

One year ago Goldman Sachs had reported a net income of $3.22 billion for the same period.

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