Goldman Sachs under pressure to reveal lobby ties
Goldman Sachs under pressure to reveal lobby ties -Ronald D. Orol ( MarketWatch)
April 23, 2012
“Public knowledge about the company’s range of advocacy is limited to what’s in its formal disclosures. But Marcus Stanley, policy director at Americans for Financial Reform, said he assumes that Goldman is heavily lobbying officials on a number of regulations affecting the firm such as the Volcker rule, a proposal named after former Federal Reserve Chairman Paul Volcker that seeks to rein in speculative trading at big banks. Stanley said he believes Goldman is also lobbying regulators on derivatives-trading rules including provisions creating transparent exchanges for swaps. Legislation under consideration in the House, which Stanley says would be favorable to Goldman, could allow global financial firms a way around regulation by dealing through their foreign affiliates.” Click here for more.