Goldman Sachs Group Inc. recently experienced its second consecutive quarter of real estate write-downs and a decline in dealmaking, resulting in a notable drop in profitability.
![David Solomon, CEO of Goldman Sachs, leads efforts to revive the bank's profitability amidst challenging market conditions. PHOTO: Shutterstock/LDH](https://krugmaninsights.com/wp-content/uploads/2023/10/1x-1-_2_-1024x682.webp)
The firm’s return-on-equity currently stands at about half its target level. The losses in the equity book last quarter, amounting to $212 million, were primarily driven by property investments.
Additionally, impairments totaling $358 million contributed to a 33% decrease in