Step Aside London Whale: Goldman Is Now Using Retail Deposits To Fund Investments

by Tyler Durden
ZeroHedge.com
Sep 13, 2016

Goldman has been using the proceeds from the new deposits to directly fund speculative activity such as trading and investments, as well as more conventional activity such as creating looans. Goldman Sachs built up its consumer bank, led by 40-year-old Goldman partner and credit trading veteran Gerald Ouderkirk, whose job is to use consumer deposits and other types of funding for trades, investments and loans.

The Rest…HERE

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