Trump's Superlative Goldman Sachs Crony Adviser Wants To Nuke Citigroup In Addition To Jpmorgan Chase
Saturday, October 2, 2004
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Title : Trump's Superlative Goldman Sachs Crony Adviser Wants To Nuke Citigroup In Addition To Jpmorgan Chase
link : Trump's Superlative Goldman Sachs Crony Adviser Wants To Nuke Citigroup In Addition To Jpmorgan Chase
White House economical adviser Gary Cohn, a quondam Goldman Sachs CEO, says he supports a potential breakup of the country's large banks.
His comments were made to several members of the Senate Banking Committee at a coming together on Wednesday reports The Washington Post.
Sen. Elizabeth Warren (D -Mass.), a fiscal interventionist of the kickoff order, asked Cohn whether the Trump direction planned to follow through alongside a displace hope to divide traditional commercial banking from Wall Street investment banking.
Cohn said he was opened upward to those discussions, which would largely revolve but about a revival of the Glass-Steagall Act, a Depression-era constabulary that restricted the kinds of activities banks could engage in.
The Post notes that the Republican 2016 platform called for bringing dorsum Glass-Steagall, but the banking manufacture has largely played downward the possibility.
Cohn's statements, the Bezos rag reports, rattled some manufacture insiders, who said it appeared to present the White House may live on to a greater extent than serious most the regard than they initially thought.
It should live on noted that according to multiple reports Cohn's influence alongside the President is increasing.
I'm certain it's all coincidence but bringing dorsum Glass-Steagall would assist Cohn's old crony firm, Goldman Sachs.
The Post correctly notes that Goldman Sachs has traditionally thrived inwards the investment banking earth but the elimination of Glass-Steagall introduced novel contest from fiscal institutions such every bit Citigroup together with JPMorgan Chase. Bringing dorsum a version of Glass-Steagall could strength some of Goldman Sachs' competitors out of the lucrative investment banking world.
"It is a vivid strategy if what Gary Cohn wants is to kill Goldman Sachs' toughest competition," said Dennis Kelleher, president of Better Markets, a nonprofit advocacy group, according to The Post.
-RW
You are now reading the article Trump's Superlative Goldman Sachs Crony Adviser Wants To Nuke Citigroup In Addition To Jpmorgan Chase with the link address https://inspirationsbymeforyou.blogspot.com/2004/10/trumps-superlative-goldman-sachs-crony.html
Title : Trump's Superlative Goldman Sachs Crony Adviser Wants To Nuke Citigroup In Addition To Jpmorgan Chase
Trump's Superlative Goldman Sachs Crony Adviser Wants To Nuke Citigroup In Addition To Jpmorgan Chase
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| Gary Cohn has a conception to takeout Goldman Sachs' competition. |
White House economical adviser Gary Cohn, a quondam Goldman Sachs CEO, says he supports a potential breakup of the country's large banks.
His comments were made to several members of the Senate Banking Committee at a coming together on Wednesday reports The Washington Post.
Sen. Elizabeth Warren (D -Mass.), a fiscal interventionist of the kickoff order, asked Cohn whether the Trump direction planned to follow through alongside a displace hope to divide traditional commercial banking from Wall Street investment banking.
Cohn said he was opened upward to those discussions, which would largely revolve but about a revival of the Glass-Steagall Act, a Depression-era constabulary that restricted the kinds of activities banks could engage in.
The Post notes that the Republican 2016 platform called for bringing dorsum Glass-Steagall, but the banking manufacture has largely played downward the possibility.
Cohn's statements, the Bezos rag reports, rattled some manufacture insiders, who said it appeared to present the White House may live on to a greater extent than serious most the regard than they initially thought.
It should live on noted that according to multiple reports Cohn's influence alongside the President is increasing.
I'm certain it's all coincidence but bringing dorsum Glass-Steagall would assist Cohn's old crony firm, Goldman Sachs.
The Post correctly notes that Goldman Sachs has traditionally thrived inwards the investment banking earth but the elimination of Glass-Steagall introduced novel contest from fiscal institutions such every bit Citigroup together with JPMorgan Chase. Bringing dorsum a version of Glass-Steagall could strength some of Goldman Sachs' competitors out of the lucrative investment banking world.
"It is a vivid strategy if what Gary Cohn wants is to kill Goldman Sachs' toughest competition," said Dennis Kelleher, president of Better Markets, a nonprofit advocacy group, according to The Post.
-RW
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