Some financial analysts predict one-tenth of Goldman Sach's earnings could be lost because of new restrictions on activities targeted by the Dodd – Frank Wall Street Reform and Consumer Protection Act (Act). However, according to "Goldman Sachs Could Be Largely Unaffected by Financial Overhaul," Los Angeles Times, August 11, 2010, Goldman executives have reportedly privately advised analysts that the bank does not expect the reform measure to cost it any revenue. Under new financial reform, the trading of derivatives could be forced onto exchanges. Goldman Sachs started to move employees in proprietary trading to other parts of the bank in response to legislation that prohibits banks from making certain speculative investments with their own money. Goldman has launched an operation to help clients that enter into derivatives contracts. This appears to be a relinquishment of the past so that the future can come. The new financial reform is about making it clear that shareholders and creditors bear their risks. In the state between action and reaction, there is an option to choose self-worth, and to question thoughts versus believing in them. When President Obama signed the Act on July 21, 2010, the Act established a liquidation authority — separate from federal bankruptcy and state dissolution laws. Rinne Legal helps people with bankruptcies and loan modifications in Contra Costa County, Sacramento County and Solano County. We have offices in Walnut Creek, Fairfield, Sacramento and Elk Grove. Contact Rinne Legal for a free consultation. Follow Rinne Legal on Twitter @RinneLegal. These blog posts are for informational purposes only and not intended nor should be construed as legal advice. These blog posts may be considered attorney advertising in some states. Prior results described on blog posts do not guarantee similar outcomes in future cases or transactions.
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