Liberal blogger Tim Fernholz at the American Prospect is following the financial regulation push pretty closely, and, like me, he listened to Goldman Sachs’s 1st Quarter conference call Tuesday morning. Fernholz noted:
The bank reported having 15 percent Global Tier 1 Capital — a relatively high amount of money for an investment bank to keep in the vaults.
Fernholz then reports that UBS banker sort of scolded Goldman for being so conservative. Fernholz than uses this scene to argue for regulation:
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