Goldman Sachs Risking More of Its Own Capital, Says Bloomberg Markets

Goldman Sachs Risking More of Its Own Capital, Says Bloomberg Markets

NEW YORK, July 14 /PRNewswire/ -- When Goldman Sachs went public six years ago, the firm said it planned to seek more earnings stability by focusing on investment banking and asset management. Instead, the archetypical Wall Street bank for much of the past century has prospered by heading in a very different direction and using more of its own money to trade and invest, according to the August issue of Bloomberg Markets.

In the August issue of Bloomberg Markets magazine, the cover story entitled "Goldman's Risky Business" reports that the New York-based firm, founded 135 years ago, is betting its own money as never before, growing far beyond its roots as investment banker to the world's corporate elite.

Bloomberg Markets writers Richard Teitelbaum and Adrian Cox chronicle the rise of Goldman's reliance on fixed-income, currencies and commodities and the risk that the firm is taking on the volatile market.

The August edition of Bloomberg Markets hits newsstands this week and will be available for sale at all local Borders and Barnes & Noble bookstores and other local news vendors. Bloomberg Markets is distributed to all users of the Bloomberg Professional(R) service. Bloomberg Markets articles are also available to users of the Bloomberg Professional service via the Bloomberg terminal.

About Bloomberg

Bloomberg is the leading global provider of data, news and analytics. The BLOOMBERG PROFESSIONAL(R) service and Bloomberg's media services provide real- time and archived financial and market data, pricing, trading, news and communications tools in a single, integrated package to corporations, news organizations, financial and legal professionals and individuals around the world. Bloomberg's media services include BLOOMBERG NEWS(R), the global news service that includes more than 1,600 journalists in 127 bureaus worldwide; BLOOMBERG TELEVISION(R), the 24-hour business and financial network produced and distributed worldwide on 10 separate channels in seven languages; and BLOOMBERG RADIO(SM), which provides up-to-the-minute news on XM, Sirius and WorldSpace satellite radio around the world and on WBBR 1130AM in New York. In addition, BLOOMBERG PRESS(R) publishes books for investment professionals. For more information please visit http://www.bloomberg.com/.

Source: Bloomberg

CONTACT: Judith Czelusniak of Bloomberg LP, +1-212-617-4273,
bloomberg@bloomberg.net; or Loren Riegelhaupt of Sloane & Company,
+1-212-446-1871, Lorenr@sloanepr.com

Web site: http://www.bloomberg.com/

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