Banks can still make risky bets despite regulatory reform

08/25/2010 | New York Times (tiered subscription model), The

The Dodd-Frank act aims to prevent banks that are federally insured from using their own money to make risky bets, but it doesn't stop them from doing so on behalf of their clients. While lawmakers were debating the rules, some banks suffered large losses making trades on behalf of clients. Goldman Sachs and JPMorgan Chase lost more than $100 million each on deals handled for clients from April to July.

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New York Times (tiered subscription model), The

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