Greg Smith isn’t done taking aim at Goldman Sachs and the rest of Wall Street.
The former Goldman employee, who shot to fame after writing a scathing March 2012 New York Times op-ed criticizing the firm, met last month with the Securities and Exchange Commission and urged regulators to ignore Wall Street’s warnings about the so-called Volcker rule and craft a strict crackdown on big bank trading practices.HT Fierce Finance
The Volcker rule is one of the most controversial parts of the 2010 Dodd-Frank financial oversight law and big banks are lobbying regulators to loosen proposed restrictions on how they can use trades to hedge against risk and help clients sell securities.
Smith sought to debunk banks’ arguments one by one in his meeting with SEC officials, according to an agenda of the Aug. 27 gathering the agency posted on its website Tuesday. A source familiar with the meeting confirmed the Greg Smith noted on the agenda is the former Goldman employee.
Smith’s meeting with regulators is likely to raise eyebrows on Wall Street where his name remains a four letter word....MORE
