BANZAI7 NEWS--Goldman Sachs and Morgan Stanley, both based in New York, were the two largest securities firms before converting to banks in September 2008 during the global financial crisis to gain access to Federal Reserve lending facilities. Today’s proposals raised questions about whether they would opt to revert to securities firms so they could avoid the new rules.
Separating Goldman Sachs’s private equity funds and its proprietary trading from client activities wouldn’t be easy to do, Goldman CFO Risk Vineyard said.
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