Goldman moves 50% of proprietary trading desk, Fox Business reports

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Uploaded by on Jul 27, 2010

Goldman Sachs (GS) has moved 50% of its proprietary traders to other areas, including asset management, in an effort to work around the Volcker rule, Charlie Gasparino of Fox Business reports. Goldman plans to have traders speak to clients in order to avoid scrutiny under the rule, Gasparino adds, noting that other banks are looking into similar moves.

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