{"id":44916,"date":"2014-11-06T07:19:02","date_gmt":"2014-11-06T12:19:02","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=44916"},"modified":"2014-11-06T07:21:34","modified_gmt":"2014-11-06T12:21:34","slug":"goldman-dumps-285-million-in-hedge-fund-stakes","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2014\/goldman-dumps-285-million-in-hedge-fund-stakes.html","title":{"rendered":"Goldman Dumps $285 Million In Hedge Fund Stakes"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/11\/goldman-sachs-293nm.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-44919\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/11\/goldman-sachs-293nm.jpg\" alt=\"goldman-sachs-293nm\" width=\"293\" height=\"257\" \/><\/a>New York (HedgeCo.Net) &#8211; In order to comply with rules implementing the new <a href=\"http:\/\/www.sec.gov\/News\/PressRelease\/Detail\/PressRelease\/1370540476526#.VFtnufmsXuI\" target=\"_blank\">Volcker regulations<\/a>, Goldman Sachs announced the sale of all liquid hedge fund assets.<\/p>\n<p><span style=\"color: #333333;\">The WSJ reports: In a filing on Wednesday, Goldman\u00a0<\/span><a style=\"color: #326891;\" href=\"http:\/\/www.sec.gov\/Archives\/edgar\/data\/886982\/000119312514396758\/d794101d10q.htm\">said it had<\/a><span style=\"color: #333333;\">\u00a0sold $2.55 billion it had in hedge funds, and had immediate plans to get rid of $375 million more. It still has, at last count, about $11.4 billion in funds that are subject to the Volcker Rule.&#8221;<\/span><\/p>\n<p style=\"color: #444444;\">Lloyd Blankfein, CEO of the investment giant, indicated that clients will continue to demand\u00a0some services prohibited under Volcker and while\u00a0Goldman Sachs\u00a0would still be permitted to co-invest with and provide liquidity to its investors, key businesses would no longer be as attractive as they once were.<\/p>\n<p style=\"color: #444444;\">The\u00a0Volcker Rule\u00a0is a specific section of the\u00a0Dodd\u2013Frank Wall Street Reform and Consumer Protection Act\u00a0originally proposed by American economist and former United States\u00a0Federal Reserve\u00a0Chairman\u00a0Paul Volcker\u00a0to restrict banks from making certain kinds of\u00a0speculative\u00a0investments that do not benefit their customers.<\/p>\n<p style=\"color: #444444;\">Volcker argued that such speculative activity played a key role in the\u00a0financial crisis of 2007\u20132010. The rule is often referred to as a ban on\u00a0proprietary trading\u00a0by commercial banks, whereby deposits are used to trade on the bank&#8217;s own accounts, although a number of exceptions to this ban were included in the Dodd-Frank law.<\/p>\n<p style=\"color: #444444;\">Alex Akesson<br style=\"color: #444444;\" \/>For\u00a0<a style=\"color: #743399;\" title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br style=\"color: #444444;\" \/><a style=\"color: #743399;\" href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br style=\"color: #444444;\" \/><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a style=\"color: #743399;\" title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n<p style=\"color: #444444;\">\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; In order to comply with rules implementing the new Volcker regulations, Goldman Sachs announced the sale of all liquid hedge fund assets. The WSJ reports: In a filing on Wednesday, Goldman\u00a0said it had\u00a0sold $2.55 billion it [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,3],"tags":[],"class_list":["post-44916","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-regulation","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/44916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=44916"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/44916\/revisions"}],"predecessor-version":[{"id":44921,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/44916\/revisions\/44921"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=44916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=44916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=44916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}