Goldman Said to Get Burned in Rare Trading Miss

The transcript discusses why Goldman Sachs was more affected than other banks due to its large positions in distressed trading, particularly with Peabody Energy. It highlights Goldman's significant investment in Peabody Energy, which was much larger than other bond dealers. The discussion also touches on the Volcker Rule, which restricts proprietary trading, and how banks navigate these regulations.

How does the Volcker rule affect proprietary trading for banks?

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What strategy do some banks use to navigate the Volcker rule?

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