1. Time Short for Goldman, Morgan Stanley to Exit Billions in Funds

    Time Short for Goldman, Morgan Stanley to Exit Billions in Funds

    (Bloomberg) -- U.S. banks got a reprieve last week when the Federal Reserve gave them one more year to comply with a Volcker Rule ban on investing in private equity and hedge funds. For Goldman Sachs Group Inc. and Morgan Stanley, now comes the hard part: Exiting billions of dollars of holdings in a short time without selling some at a loss...

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  2. Quotes

    1. For the most part, there isn't a sense of panic.
    2. There could be a limited secondary market for these investments and the firm may be unable to sell in orderly transactions.
    3. They just kind of want to hit the snooze button again over and over with the Fed.
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