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The New Goldman Age

David Solomon has Goldman Sachs operating as effectively as ever—returning billions to shareholders and prepared to take advantage of the regulatory environment to capitalize on a fertile M&A landscape.

David Solomon
After a rough patch, caused largely by the flailing consumer banking division and some itchy partners, Solomon has Goldman looking as Goldmanesque as ever. Photo: Naina Helén Jåma/Bloomberg/Getty Images
William D. Cohan
July 20, 2025

Somehow, despite the chaos in Washington embodied in Trump’s “Liberation Day” mishegas, the big Wall Street investment banks had a terrific second quarter. JPMorgan Chase, Jamie Dimon’s money-printing machine, generated $15 billion of net income in the quarter, putting it on track to potentially hit $60 billion of net income for the year—a feat that no American bank has ever achieved.