Goldman hit by weak fixed-income, investment banking revenue

Reuters reports:

Goldman Sachs Group Inc reported a 7 percent drop in quarterly profit as investment banking revenue slid and an unexpected bout of market volatility in December hit its bond trading business.

Revenue from trading fixed income securities, currencies and commodities (FICC) - long a strength for Goldman - fell 29 percent to $1.22 billion in the fourth quartet, mainly due to low levels of activity in debt products and mortgages.

Don't worry, if things got real bad they'd get a bailout.