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Maybe Traders Shouldn't Be Allowed To Trade Anything

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For themselves, anyway. If they work at a bank. It would just make things so much simpler, says BreakingViews.

[Goldman’s] new policy raises a bigger question, though: Why are Wall Street deal makers allowed to own individual securities at all?...

The default across the industry should be that bankers avoid owning individual securities, with permission sought only for exceptions. What is more, deal makers could be given, say, seven years to divest themselves of such stocks and bonds to reduce any penalty for selling.

Goldman’s New Conflict Rules Go Only So Far [DealBook]


By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

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Eric Rosengren and Robert Kaplan may be gone, but Elizabeth Warren will have Richard Clarida to kick around. Until January, anyway.