Bank Regulatory Reform In The United States: The Case Of Goldman And The Volcker Rule

This case is an ethics case.  The focus is on corporate governance in a major Wall Street bank, Goldman Sachs.  The case discusses what Congress has done in the past and what it may do in the future to prevent breaches in ethics relating to proprietary trading.  In response to the current financial...

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Bibliographic Details
Published in:Journal of business case studies 2010-11, Vol.6 (6), p.59
Main Authors: Holowecky, Elizabeth, Murry, Ashley, Staneva, Violeta, Fuglister, Jayne
Format: Article
Language:English
Subjects:
Banking industry
Banks
Business ethics
Case studies
Commercial banks
Competitive advantage
Corporate governance
Deposit insurance
Economic crisis
Ethics
Government obligations
Investment banking
Regulation of financial institutions
Regulatory reform
Underwriting
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Summary:This case is an ethics case.  The focus is on corporate governance in a major Wall Street bank, Goldman Sachs.  The case discusses what Congress has done in the past and what it may do in the future to prevent breaches in ethics relating to proprietary trading.  In response to the current financial crisis, Congress has proposed many changes for the banking industry and the proposals have gained momentum because of the SEC’s accusation of fraud at Goldman Sachs.  One piece of proposed legislation, endorsed by President Barack Obama and former chairman of the Federal Reserve, Paul Volcker, is based on the Volcker Rule.  This rule would return the banking industry to the decades of the Glass-Steagall provisions of the Banking Act of 1933.  The Volcker Rule would reinstitute the separation of commercial and investment banking. 
ISSN:1555-3353
2157-8826
DOI:10.19030/jbcs.v6i6.259