In case you needed any more evidence that regulators discover problems and scandals by picking up the newspaper, witness: On Monday, The Wall Street Journal reported on Goldman’s trading huddles, and its practice of giving preferred tips and access to big clients. And then the very next day, both FINRA and the SEC are asking Goldman for more info on the practices.
Watch for the Journal to keep pushing this story — even though many Wall Streeters found it totally underwhelming — and as long as the paper does, regulators will stay on the scent.
Hopefully it won’t turn out to be as big of a manpower and mental-energy waste as the backdating controversy
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