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Stories of Interest
- White House Now Doesn’t Dispute Details of Trump's Call with Army Widow
- Goldman Sachs’ Lloyd Blankfein Just Threw Some Serious Brexit Shade
- Guggenheim Partners ‘Bank Wrecker’ Could Get $100Mn Exit Package
- Proposed Arbitration Rule Change: For Customers Dealing with an Inactive Firm or Associated Person
- This Family Bet It All on Bitcoin
- Clearinghouses Pass CFTC Liquidity Stress Tests
- President Trump Admits He’s Trying to Kill Obamacare. That’s Illegal.
- Trump Plunges Down List of ‘America’s Richest’
- Is Trump’s “Foreclosure King” in Over His Head?
- FBI Arrests NCAA Basketball Coaches and Adidas Rep in Bribery Probe Involving Recruitment
- Equifax CEO Steps Down Amid Hacking Scandal
- Litigation Costs to Rub Salt in RBS Investor Wounds
- RIAs Poised to Land Wirehouse Recruits - Dan Jamieson
- Citibank and U.K. Affiliate to Pay $550K Penalty for Swap Data Reporting Violations - CFTC
- AIG to Restructure into 3 New Units, Marking CEO's First Big Move
- Accounting Firm Deloitte Says It Suffered Cyberattack (subsc reqd)
- Upcoming FINRA Board Meeting and FINRA360 Update
- Elizabeth Warren Lifts Hold on Trump DOJ Antitrust Nominee
- Bigger Mergers Narrow Indy Reps' Options, Alter IBD Channel - Dan Jamieson
- Dentons to Merge with U.K.'s Murray & Spens
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NEWSLETTERS & ALERTS
Goldman Sachs Share Price Would Double Under 'Glass-Steagall II'
In an interview with NBC, noted Wall Street analyst Dick Bove of Rafferty Capital was asked his favorite question - What's your take on all the talk about reinstating some form of Glass-Steagall or of deregulating a bulk of the provisions of Dodd-Frank?
Without hesitation, Bove referred the 2nd coming of Glass-Steagall as the "Goldman Sachs Financial Aid Bill," noting that if the government were to reinstate Glass-Steagall legislation, Goldman Sachs' stock price would double - almost immediately. The same might similarly be said of Morgan Stanley - since both banks are not committed to commercial banking operations that other banks are - e.g., JPMorgan, Citi, BofA.
Which begets the question:
Should Goldman Sachs divest its banking business and reinvent itself as (return to being) an investment banker / broker-dealer?