When Goldman..... and Goldman past executives Regulating Goldman.....
When Goldman sells their bank then you know that the Present President will let the banks fail. In his last speech our current president said he will let Wall Street banks go. SO IMHO when Goldman sells the that will be the Signle of the Next Great Crisis. Then I think they will impose martcial law. So should I invest in the owners of the FEMA camps?
Pay rules may prompt Goldman to shed bank charter
Tue Sep 22, 2009 4:15pm EDT
By Steve Eder - Analysis
NEW YORK (Reuters) - Some investors believe Goldman Sachs Group Inc (GS.N) may try to shed its commercial banking charter to sidestep U.S. government efforts to rein in exorbitant Wall Street pay.
But regulators may force the firm to stay in the banking system.
The U.S. Federal Reserve is proposing new rules to limit pay packages in an effort to curb excessive risk-taking. Banks are expected to bridle under the new restrictions, with Goldman taking particular umbrage because of its history of outsized compensation deals for strong performers.
But Goldman is a massive bank -- its $890 billion in assets make it the fifth-largest in the United States -- and any difficulty it faces could bring trouble to the financial system. That means regulators are likely to continue to take a keen interest in the bank, investors said.
The stakes are high. Regulators are struggling to ensure that they fix the financial system so that the market meltdowns of 2008 are not repeated.
"The government is going to find a way, one way or another, to include (Goldman) in regulations," said Walter Todd, a portfolio manager at Greenwood Capital Associates in South Carolina.
Goldman, for its part, said it would not seek a change.
"(The) Fed is our supervising regulator and we have no plans for that to change," spokesman Lucas van Praag said.
Yep IMHO Goldman likes Goldman regulating itself. Are they not part owners of the Fed ops the IMF? Yes I can see why they like the IMF to regulate them.