How pedestrian. Goldman Sachs posted a single-digit-percentage return on equity during a pretty woeful second quarter, a performance more like that of a garden-variety bank than a Wall Street powerhouse.

The result contrasted with the 20%-plus returns Goldman shareholders have become accustomed to and the 30%-plus returns often seen during the credit boom. In fact, putting aside the last two quarters of 2008, when the financial crisis was reaching a crescendo, Goldman since going public in 1999 hadn't before Tuesday had a quarter in which its return on common equity was below 10%, according to Capital IQ.