Though the final rule has yet to take effect, Goldman has already shut down proprietary trading desks, divested other investments and shed securities.
No one doubts that Americans are getting fatter, as we hunker down behind our desks all day, and eat super-sized orders of fries.
Cohn and his investment banking counterparts must be feeling especially resentful now that they Volcker Rule has forced them to shut down their proprietary trading desks.
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Banks including Bank of America, Goldman Sachs, Morgan Stanley and others began winding down their prop trading desks early on before the much of the rule was finalized.
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If more of these desks are shut down, the markets will become less liquid.
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In Colorado, scores of uphillers hit the slopes each morning, ski uphill for an hour then shoot back down to arrive at their desks before 9 a.m.
The main reason being, if you've ever been in a company where someone has sent a stinker of an email on their departure day, you will see an entire office-full of people hunkering down and cringing at their desks.
There is a pervasive belief in our society that in order to be productive, we need to be chained to our desks with our heads down.
Long before they had to firms like Goldman Sachs, JPMorgan Chase and Bank of America were jumping the gun on the Volcker Rule and shutting down some of their proprietary trading desks.
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All banks have until 2014 to comply but Goldman and JP Morgan already shut down some of their proprietary trading desks while Bank of America laid off a third of its prop traders.
Located in the bustling business district of Maslak, the museum only opens to the public when the staff have shut down their computers and tided their desks and papers away for the night after 5pm.
She had flitted in like a summer breeze, put a package of square Russian biscuits on the table, and sat down on the edge of one of the desks, not looking at anybody, her legs crossed.
Another sign Goldman was waving a yellow flag at its trading desks: value-at-risk was also down from the second quarter.
Over the past few years many of the small-cap trading desks that made markets in Bulletin Board issues have been shut down or drastically reduced in size, including those run by Goldman Sachs (which bought Spear Leeds, the NYSE market specialist firm, in late 2000), Sherwood Securities and Fleet Securities.
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