Vladimír Urbánek (Kurzy.cz)
Finance  |  October 04, 2010 10:08:22

U.S. banks ends with trading on own account. Or not?


Before the vote on legislation aimed at reforming the financial system with large banks on Wall Street were to not pass a proposal by Senator Carl Levin, who called for an absolute ban on any form of so-called proprietary trading. With sufficient pressure banks tightened the Levin amendment to the vote. The final version of the law, while trading on their own account, such as bans, however, allows large companies from Wall Street to invest up to three percent of its own capital into hedge funds. The practical application of new rules in practice lies in the willingness of regulators, however, is not hard to guess what these hedge funds will be used. Allow banks to continue for at least part of what made so far, but call it another name. Banks saw the opportunity and also for her zabojovaly.

A few weeks later came the samebanks with surprising statements - Morgan Stanley, JPMorgan and Goldman Sachs announced that they intend to end up with trades on own account or sell participation in hedge funds under their control. Something's wrong - why give up something so obviously, what lobbied so hard?

The full report can be found on the server Patria Online, specifically HERE

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Americké banky končí s obchodováním na vlastní účet. Nebo ne?

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