In many ways, Goldman's resurgence amounts to getting back to what it has always done so well: dealmaking and trading. The former has been in the midst of a near-total drought for the better part of a year, which is part of the bank's problem.
We've written a lot about the struggles at Goldman Sachs recently, and rightfully so. If you're the most high-profile bank on the Street, you've gotta take the sour with the sweet. But I'll admit I feel slightly bad for Solomon.
His initial push into consumer banking was about avoiding this exact situation. M&A comes and goes, but a deposits business is more dependable, as is evident by the success Goldman's peers had this quarter.
2. Upfront's Mark Suster is, well, upfront. The high-profile VC became a star of the booming startup scene in Los Angeles. But not everyone is a fan of his take-no-prisoners approach. More on Suster here.
3. Kim K builds her PE empire. SKKY Partners, the PE firm cofounded by Kardashian and Jay Sammons, has hired six employees, including its new COO who used to work at Apollo Global Management. More on the new hires.
4. Bain is literally paying people to not work for them. The exclusive consulting firm is offering its new MBA hires up to $40,000 to delay their start dates and pursue other work and hobbies. Why your next yoga instructor might be a future Bain consultant.
6. Jamie Dimon will be questioned for two days on Jeffrey Epstein. The JPMorgan CEO is set to be deposed over allegations regarding the bank's ties to Epstein, Bloomberg reported. More on the case here.
7. Credit Suisse's dark past. A Senate committee investigation found the Swiss bank didn't properly look into allegations made about bank accounts held by Nazi party members, The Wall Street Journal reported.
8. Betterment left money on the table for its customers. The fintech "misstated or omitted several material facts" regarding its tax loss harvesting service, one of its key offerings, that led to clients missing out on roughly $4 million in potential tax benefits, according to the SEC.
10. Fast-food fun facts. Did you know McDonald's first mascot wasn't that creepy clown? Or that Taco Bell's initial menu had just five items on it? Check out all 18 facts here.
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