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Stories of Interest
- Address at ICI's 2017 Securities Law Developments Conference - SEC Commissioner Stein
- New York Pension Fund Seeks More Pay Disclosure from Wells Fargo
- Wells Fargo Sanctions Are on Ice Under Trump Official
- Josh Brown: Here's How to Buy Bitcoin, But Realize It Could Be One Giant Bubble
- Trump's New Tax Plan Could Cost Citigroup $20 Billion
- Morgan Stanley Fires Former Congressman Harold Ford Jr.
- Al Franken Will Resign Over Sexual Misconduct Allegations - His Full Resignation Speech
- Ex-NFL Player Gets 40 Years for Running $10Mn Fraud
- Bitcoin Blows Past $15K, Adding $2K in Under 12 Hours
- Financial Adviser Settles Charges for Defrauding Private Equity Fund Investors
- New Cross Market Equity Supervision Report Cards - FINRA Phone-In Workshop, WebEx Presentation
- Mueller Just Crossed Trump's Red Line, With Deutsche Bank Subpoena
- Wildfire Rages Near Los Angeles
- Former Company Insider Has $4.1Mn Payday as a Whistleblower
- Audit Firm, Anton & Chia, Conducted Fraudulent Audits of Penny Stock Companies - SEC
- Mueller Subpoenas Deutsche Bank Records on Trump and Family
- Bitcoin Nearly Halfway to $400Bn Value Predicted by Winklevoss Twins 4 Years Ago
- Fidelity Clients Suffer Second Website Glitch in Week
- CBOE Beats CME to Bitcoin Futures Launch with December 10 Start
- McKinsey Senior Exec Thomas Barkin Named New Head of Federal Reserve Bank of Richmond
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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?