It’s early in 2013 and Wall Street has already seen its first ugly round of layoffs from Morgan Stanley, so people have been really on edge about who’s next.
This is something people feel especially at bulge bracket firms like a JP Morgan or a Bank of America. The exception to that rule is Goldman Sachs.
That’s probably why Bloomberg’ TV’s Erik Schatzker just asked Cohn, point blank — has the bank brought down costs far enough?
Cohn’s answer might give someone at Goldman Sachs a slight shiver :
I never know the answer to that… I’ve said this before and i’ ll say it again: I’ve never had a day at Goldman Sachs where i thought the firm was perfectly sized. At the bottom of the market you feel too big, at the top you feel way to small, and in the middle you’re trying to gauge not only what’s happening today but also what’s happening tomorrow. Based on where we are today we feel like we’re in a pretty go position, but I can change my opinion on that tomorrow.
He sounded really pleasant saying it, if that helps…
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