Is Goldman Going to Be a Better Bank?

I have been saying for a long time that they should have combined voluntarily with a decent sized regional. They didn't want to do acquisition because the guys at Goldman today are regulated like a broker dealer, not so much like a bank. If he could spin off Chase and the credit cards tomorrow, would he do it? Yeah. Because the risk of just returns are just not there. This is why Wells is pulling back. They've been spanked enough. Look at Europe. You don't start new banks in Western Europe. You're not allowed to. And you know what? That's okay. Big dumb boring business. It's wonderful.