Goldman was issued a Bank Licence and has never had to follow the same rules as the other Banks and has received Billions of US Citizen Funds while taking the other side of the trade. People have lost their life savings with all the creative trading tools and with NO accountability to the public. You are playing against a stacked deck and the Government is the Guarantor. In the old days they would have hung you for stacking the deck.
you people are thinking about prop trading or high frequency trading. goldman is already planning for the next niche to make billions. get the difference?
Won't happen though, as the Demo'craps' no longer have 60 votes in the Senate, courtesy of your liberal losers in MA. lol
I hope you are right! It is very telling that equity trading or investing had no bearing on the economic rut we are in. Actually, the mkt has been one of the few bright spots in the economy to date. Leave it to democrats to kill the one of the strong sectors of the economy. I hope this gets shelved indefinitely along with all the other dem's bright ideas.
If this happens it will be time to move to Russia! At least there an individual can enjoy some economic freedom!
Obama is just trying to assist his state of the union speechwriter. Really, what could he possibly say that will draw an ovation? He'll rip on GS earnings, and announce this garbage proposal.
The devil is in the details, of which I didn't see any in the article. The bottom line is is that the financial sector will always have first dibs on bailouts, and the reality of politics is that they will be nearly impossible to stop. So either strict, comprehensive regulation, or a strong size limits are mandatory to prevent more debacles like the past couple of years is necessary. However, with that said, as long as voters insist on subsidized 30 year mortgages, there is a limit to regulatory effectiveness because so much money is flowing through a subsidized gate.
They don't. Goldman would be broke like Citi if it weren't for the AIG bailout. That's why this is being discussed.
The irony is that 90% of the big banks profits come from prop trading. So the 10% other activities is what needs to be controlled! Read between the lines.