Private Equity

Merchant banking: Goldman Sachs's $2.7bn question

If Congress moves to restrict merchant banking, Goldman has the most to lose among big banks, says one high-profile analyst

Merchant banking: Goldman Sachs's $2.7bn question
Photo: Getty Images

The Federal Reserve’s recommendation earlier in September to restrict merchant banking – equity investments by banks, generally in non-financial companies – may go nowhere given the current political slog.

But if Congress does act, Goldman Sachs has the most to lose among big banks, according to one high-profile analyst.

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