Wednesday, July 7, 2010

Let Goldman Be Goldman - Opinionator Blog - NYTimes.com

Let Goldman Be Goldman - Opinionator Blog - NYTimes.com: "Unfortunately, nothing in the 2,319-page Dodd-Frank bill addresses the dramatic change in Wall Street’s culture away from taking prudent risks with its own partners’ capital toward a culture that rewards bankers and traders for taking risks with other people’s money. This ethic is pervasive across Wall Street, and not just at Goldman Sachs, which as the last major Wall Street firm to go public — in 1999 — retains more of a partnership mentality than do its brethren."

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