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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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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?