Goldman Sachs May Spin Off Proprietary Trading This Month

A

ASusilovic

Goldman Sachs could spin off at least part of its proprietary trading operations as early as this month to comply with new rules that limit Wall Street firms from betting their own money in financial markets, according to people familiar with the matter.

http://www.cnbc.com/id/38557839

So, prop traders are leaving a hedge fund and joining another ?:cool:
 
Quote from ASusilovic:

Goldman Sachs could spin off at least part of its proprietary trading operations as early as this month to comply with new rules that limit Wall Street firms from betting their own money in financial markets, according to people familiar with the matter.

http://www.cnbc.com/id/38557839

So, prop traders are leaving a hedge fund and joining another ?:cool:
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Yup, their client-facing services are now going to be the bread & butter. Their prop desk has had a tough time this year, especially in the energy space. Perfect time to unwind the operation.
 
Or its a nice way to privatize the public wealth of Goldman and I mean public wealth in two ways - the shareholders, and the governments. Obviously, the governments wealth is gone, long gone. But as for their stock, its entirely possible that offloading prop trading by banks is a snow job for the shareholders too.
 
what's the problem? why US have such a law? if client's money are segregated so why not allow them to gamble with their own money?
 
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