Posted Sep 9, 2013 by Martin Armstrong
While Goldman Sachs is trying to launch TV ads championing their efforts to fund companies, they still cling to their proprietary trading. Now in Switzerland both the right-wing Swiss People’s Party (SVP) and the left-wing are mounting a new efforts to end proprietary trading in UBS and Credit Swiss by breaking up the banks. The Lower-house lawmakers on Monday submitted 3 motions all aimed at separating investment banking activities from traditional banking.
Proprietary Trading among the banks is now under collapse. This ran the full cycle of 31.4 years and banking is now moving back to the more traditional role. The repeal of Glass-Steagall was the worse possible thing done spearheaded by Robert Rubin of Goldman Sachs. But even worse, they then used the US Treasury to export that through the World Trade Organization to broaden their scope of proprietary trading worldwide. The sever damage the NY Bankers have cause is monumental besides controlling the Department of Justice and the Judiciary to ensure that they would never be charges with anything they ever do. The end is now here. Stay away from those banks involved in proprietary trading. They will go into meltdown after 2015.75.