Goldman Sachs Group Inc (NYSE:GS)’ CEO Lloyd Blankfein announced today that the firm would begin winding down hedge funds to comply with the Volcker Rule. Lloyd Blankfein indicated the firm would begin winding down hedge funds and garnering private equity to comply with financial reforms created to restrain activities deemed riskier. Goldman Sachs to comply with Volcker Rule Blankfein announced at a Bank of America Corp (NYSE:BAC) conference that the bank’s move to begin winding down was in keeping with guidelines under the Volcker Rule that bans banks from trading from their own accounts. However, he emphasized that investment banking…
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