Description: Goldman Sachs Group Inc., which took $10 billion in U.S. 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.

Source: Bloomberg.com

Date: 12/12/2009

Link: http://www.bloomberg.com/apps/news?pid=20601103&sid=a.O8G_pyd5ZE

Questions for discussion:

• Summarize the highlights of the story.
• How might this impact the operations of the financial services industry and regulatory bodies? Explain your thinking