Home Business'Goldman trades should not get US aid'
Goldman Sachs Group Inc, which took $10 billion in US bailout funds last year, shouldn’t get taxpayer support if the firm focuses on trading over banking, according to former Federal Reserve Chairman Paul Volcker.
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The “safety net” provided by the US government “should not be extended beyond the core commercial-banking business,” Volcker, 82, said in an interview at Deutsche Bank AG’s Berlin office, where he was attending a conference. “They can do trading and do anything they want, but then they shouldn’t have access to the safety net.”