Goldman Sachs signals partial retreat from consumer banking


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Goldman Sachs do not like being told what to do. More consumer products mean more oversight. They will not be able to steal their clients money and spend it on hookers and blow ("Wolf of Wall Street") then blame it on the market.

The average consumer will be more watchful of their smaller amounts of income and quicker to report any suspicious wrongdoing.

This could exposed their other possible wrongdoings!

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They were forced into that position back in 2008, and never suited that model. Big Government getting in the way of Financial Corporations was their Achilles heel. Governments back then, made the wrong decisions for the right reasons and since then we've all been paying for it.

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Who cares? People need money not banks. Most folks on the planet or around can very well keep the few peanuts by themselves.

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@Sven Asai

Money without productivity only leads to inflation.

Why do you Socialists think money is the same thing as value?

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Omg, @JoshK, I am not a socialist, you misunderstood it. But I see the distribution problem, when everything is in only a very few hands. That’s what is strangling the economy everywhere. Does Pareto distribution tell you something? And of course, if the masses don’t have money, they can’t buy things and bringing profits to the riches too and they are also demotivated and unhealthy and unproductive. To break that downwards spiral an ignition for a new vivid system is needed, you know. So while it seems to be a socialist attempt, it is only very temporarily short timed and saves and strengthening capitalism. But go ahead with all the wealth in one hand. You’ll see that this leads to nothing good at all.

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