Dividing Up the Spoils

Goldman Sachs' partners pull down plump profits

The partners of the prestigious Wall Street firm Goldman, Sachs & Co. work long, hard hours, provide a useful economic function and give generously to charities. They also make a breathtaking amount of money: $2.7 billion in pretax income last year, a number that nearly matched the 1992 gross national product of Uganda.

Goldman earned its megaprofits on just $13.2 billion in revenues, which brought a very handsome 20.14% return -- head and shoulders higher than margins for most financial institutions. Yet they are not alone in this stratosphere. Rivals J.P. Morgan and Merrill Lynch turned in comparable performances.

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