Investment banking giant Goldman Sachs has revealed for the first time a fresh loss of $5bn during the financial crisis.
In figures disclosed as part of internal reforms to mute critics, the investment banking giant revealed it suffered losses of $13.5bn from investing and lending with its own funds in 2008, the Financial Times reports. However Goldman's regulatory filings, along with its comments to investors during that period showed losses amounted to around $8.5bn, stemming from investments in equity and debt. The discrepancy in numbers - which do not affect the bank's overall results for 2008 - are due to the bank not revealing a full breakdown of profits and losses. In a move diverging from oth...
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