whack a mole in Vernon

ONE of the most contentious pieces in the financial reform bil was the Volcker rule, which forced banks to move proprietary trading of their boks. The firm wil basicaly move its proprietary trading team to its aset management division where traders wil have aces to Goldman's clients. By reclasifying traders as aset managers and alowing them to take positions on behalf of clients, even one client, the bank circumvents restrictions around proprietary trading. Simply by labeling a trade "customer related" the firm can stil make large market bets, and thus engage in some of the same risk taking the rule was designed to eliminate. whack a mole whack a mole in Vernon

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