Blankfein to CNBC: Goldman “Best Positioned’ If Glass-Steagall Act Returns

Goldman Sachs Group Inc. is best positioned if the Glass-Steagall Act returns, Chief Executive Lloyd Blankfein told CNBC.

U.S. President Donald Trump has been actively considering breaking up big banks, which could push efforts for revival of the Glass-Steagall Act, a Depression-era law that separated commercial lending from investment banking.

Bringing back Glass-Steagall would likely have a significant impact on banks like JPMorgan Chase & Co, Bank of America Corp and Citigroup that have large highly intertwined commercial lending and investment banking operations, say analysts.

It would impact Goldman Sachs and Morgan Stanley to a lesser degree although, they would likely have to revert to being standalone investment banks and shed their deposit funding.

During the CNBC interview on Tuesday, Blankfein also commented on the less volatile markets, calling it “worrisome.” “I don’t know what brings us out of the doldrums, but I do know this is not a normal



Leave a Reply

Recent Posts

Trump Supporters: Get Your 2020 'Keep America Great' Shirts Now!

Are you a proud supporter of President Donald Trump?

If so, you’ll want to grab your 2020 re-election shirt now and be the first on your block to show your support for Trump 2020!

These shirts are going fast so click here to check for availability in your area!


More Popular Stuff for Trump Supporters!

MUST SEE: Full Color Trump Presidential Coin (limited!)

Hilarious Pro Trump 'You are Fake News' Tee Shirt!

[Exclusive] Get Your HUGE Trump 2020 Yard or House Flag!